Elion Partners has so far raised $400m (€371.5m) for its second US industrial real estate fund, according to sources.

IPE Real Assets understands that the Elion Industrial Fund II fund, with a $750m fundraising target and a $1bn hard cap, is expected to have a final close in June this year.

Elion Partners raised $500m in August 2021 for Elion Industrial Fund I, the manager’s first value-added fund and its first institutional industrial vehicle.

According to sources, the latest fund has recently received a $75m commitment from the District of Columbia Retirement Board and a $20m commitment from the Illinois State Board of Investment.

IPE Real Assets also reported that the Teachers’ Retirement System of the State of Illinois approved a $50m commitment to the fund.

Elion Partners, which declined a request for comment, is known for investing in logistics real estate assets in core infill US coastal markets.

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