DivcoWest seeks $2bn capital raise for latest real estate fund

DivcoWest intends to raise $2bn (€1.8bn) for its latest real estate fund, according to the Massachusetts Pension Reserves Investment Management Board (Mass PRIM).

If successful, DivcoWest Fund VI will be the largest-ever raised by the company, overtaking its predecessor which raised close to $1.6bn in 2017.

Mass PRIM disclosed the fundraising target in a board meeting document and said it had approved a $200m commitment to the fund.

DivcoWest declined a request for comment.

As previously reported, Teacher Retirement System of Texas has also invested $100m in DivcoWest Fund VI.

Mass PRIM, which rarely invests in commingled real estate funds, said DivcoWest had built up a strong track record.

The fund commitment will nearly double the size of Mass PRIM’s $286m non-core porfolio, which makes up about one quarter of its $7.1bn real estate exposure.

Related images

  • Office

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2573

    Asset class: Real Estate.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-06.

  • QN-2575

    Asset class: Core Real Estate Muli-Manager Separate Managed Account.
    Asset region: Global.
    Size: CHF 150m.
    Closing date: 2019-12-20.

  • QN-2576

    Asset class: Small Caps Equity.
    Asset region: US.
    Size: $>100m.
    Closing date: 2019-12-09.

  • QN-2578

    Asset class: Sovereign Local Currency Emerging Market Debt.
    Asset region: Local emerging markets.
    Size: EUR 950m.
    Closing date: 2019-12-19.

Begin Your Search Now