Virginia Retirement System has added Crow Holdings to its real estate manager team via a commitment to the manager’s latest US value-add fund.
The $102bn (€88bn) pension fund said it has approved a $150m (€128.8m) commitment to Crow Holdings Realty Partners Fund IX as part of $2.6bn in capital commitments announced by Crow Holdings at the fund’s close last month.
The predecessor fund raised $1.3bn.
The fund targets assets across the US, primarily in industrial and multifamily as well as in speciality sector opportunities like medical office, hotels, convenience/gas stations, student housing and self-storage assets.
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