Stockbridge has raised $461m (€380m) for its latest US value-add real estate fund, according to sources familiar with the matter.
Stockbridge Value Fund IV, which had raised an initial $225m earlier this year, is now close to its target of $500m. A final close is planned for April next year.
South Carolina Retirement System recently approved a $100m commitment to the fund, according to a board meeting document.
The fund will target multifamily, industrial, retail, office and medical office assets.