Walton Street Capital has raised an initial $875m (€692.1m) for its open-ended US core-plus real estate fund according to SEC filing.

The initial capital raise for the Walton Street Core-Plus Fund was backed by founding investors Oregon Public Employees Retirement Fund and Teachers’ Retirement System of the State of Illinois, investing $250m each.  

The fund is the first core-plus investment product to be offered by Walton Street, a manager previously known for its opportunistic strategy.

The new fund, which will be looking for assets that can produce gross returns in the range of 8% to 10%, will invest in the four main property types.

Walton Street declined a request for comment.

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