Harbert seeks $600m for latest US value-add property fund

Harbert Management Corporation is seeking to raise $600m (€543m) for its latest US value-add real estate fund, according to an investor.

Teachers’ Retirement System of Louisiana (TRSL) said in a board meeting document that it has approved a $50m commitment to Harbert United States Real Estate Fund VII, which targets mid-market assets in non-gateway markets.

Harbert’s previous fund raised $428.5m in December 2017.

TRSL said it had also approved a $75m commitment to the Cabot Industrial Value Fund VI, which is targeting $800m in capital. Its predecessor reportedly raised $775m in August 2017.

Cabot’s industrial-focused value-add fund will invest predominantly in North America.

Related images

  • Harbert's 5 Central multifamily asset in Minneapolis

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

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

  • QN-2563

    Asset class: Mid & Small Cap Equities.
    Asset region: Global.
    Size: USD $130m.
    Closing date: 2019-09-27.

  • QN-2564

    Asset class: Large Cap Growth Equities.
    Asset region: Global Developed Markets.
    Size: USD $130m.
    Closing date: 2019-10-04.

  • DS-2567

    Closing date: 2019-10-02.

  • QN-2569

    Asset class: Local Currency Bonds.
    Asset region: Global Emerging Markets.
    Size: $500m.
    Closing date: 2019-10-10.

Begin Your Search Now