Goldman Sachs Asset Management has raised $3.5bn (€4.1bn) to target core-plus and value-add real estate investment opportunities globally.

The asset manager said the fundraising for its Real Estate Investment Partners (REIP) programme was backed by a diverse group of institutional and high net worth investors.

REIP has made a number of investments in sectors including logistics, residential and office buildings, the manager said.

Julian Salisbury, the global co-head of Goldman Sachs Asset Management, said: “This fundraise reflects the strength, track record and breadth of our global real estate platform. Our tenured team has navigated complex changes in the real estate market over multiple cycles and produced strong outcomes for our clients.

“We are focused on delivering consistent risk-adjusted returns for investors and are grateful for their continued support and partnership.”

Established in 1991, the real estate business within Goldman Sachs Asset Management has invested over $50bn since 2012 across the spectrum of investment strategies from core to opportunistic.

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