Crow Holdings Capital Partners has set a $3bn (€2.8bn) fundraise target for its latest real estate fund, according to an investor.
Teachers’ Retirement System of Louisiana (TRSL) disclosed in its meeting document that it has approved a $100m commitment to Crow Holdings Realty Partners X, a US value-add real estate fund.
Illinois State Universities Retirement System also revealed in its meeting document that it has made a $50m commitment to the fund.
The Crow Holdings fund, which mainly invests in industrial and multifamily assets, will also target some speciality property types like manufactured housing, convenience and gas properties, student housing, self-storage and food/service retail.
Crow Holdings is expected to make a co-investment commitment to the fund. Crow Holdings has raised $2.6bn for its ninth US value-add real estate fund.
TRSL said in the meeting document that is planning to conduct a search for two global real estate investment trust (REIT) managers to award a $400m mandate to.
The pension fund currently has Brookfield Investment Management and Dimensional Fund Advisors as its global REIT managers managing a $202.4m and $227.1m portfolio respectively.
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