FCP is planning to raise $950m (€797.2m) for its latest US value-add real estate fund, according to an investor’s meeting document.

In the meeting document, it was disclosed that the Teachers’ Retirement System of Louisiana had approved a $50m commitment to FCP Realty Fund V, a fund expected to mainly target US multifamily, office and mixed-use assets.

FCP declined a request for comment. The manager, which raised $755m for the predecessor fund in November 2018, has in the past invested throughout the eastern US and Texas.

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