Invesco Real Estate has raised $919m (€875m) for its latest US value-add real estate fund, according to a report from the Teachers’ Retirement System of Oklahoma.

Invesco Real Estate US Fund VI, which has attracted 16 investors, is more than a third of the way to its $2.5bn fundraising target.

A final close is anticipated for the end of June, according to board meeting report by real estate adviser The Townsend Group.

The fund has six transactions in due diligence or under contract worth some $338m, including investments in industrial cold storage in Altanta, Jackonsville, Dallas and Pennsylvania.

Others include an industrial asset in Baltimore and a $125m single-family housing portfolio.

Max Swango, managing director and global head of client portfolio management at Invesco, said: “Fund VI has acquired an interesting portfolio over the past 16 months in sectors that are benefitting from secular trends driving increased tenant demand in logistics, residential and life science projects.”

Oklahoma Teachers has also approved a $100m commitment to an opportunistic real estate fund, TPG Real Estate Partners IV, according to a board meeting document.

The fund is expected to close by the middle of the year, having held a first close earlier in 2022 with total commitments of around $3bn.

TPG is seeking to raise $6.5bn and will focus in the near term on life-science real estate, industrial, build-to-rent residential housing, student housing and studio-production properties.

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