Mesirow Institutional Real Estate Direct Investment has so far raised $532m (€495.8m) for its latest US apartments fund, according to a recent SEC filing.

The Chicago Municipal Employees Annuity & Benefit Fund also recently disclosed in a meeting document that it committed $25m to Mesirow Financial Real Estate Value Fund V, the fund seeking to raise $1.2bn.

Mesirow raised $750m for the previous fund in the series which closed in June 2021.

The latest fund will be investing in value-add properties located in the top 25 to 30 markets throughout the US.

Mesirow has a history of investing in a variety of areas including Northern and Southern California, Seattle, Florida, Illinois, Massachusetts, Maryland, Illinois and Texas.

To read the latest IPE Real Assets magazine click here.