Waterton is planning to close the fundraising for its latest US apartment fund next month, according to people familiar with the matter.

As previously reported, the manager is seeking to raise $1.25bn (€1.4bn) for the Waterton Residential Property Venture XIV fund, an amount which exceeds the $920m raised by predecessor fund in April 2018.

In a meeting document for the Connecticut Retirement Plans and Trust Funds, the pension fund’s investment consultant NEPC said the Waterton fund had so far raised $869m. Connecticut Retirement also said it is considering a $100m commitment to the fund.

The Employees Retirement System of Texas and Teachers’ Retirement System of Louisiana have recently issued a $50m commitment each to the Waterton fund, according to the pension funds.

IPE Real Assets previously reported that Kansas Public Employees Retirement System and Orange County Employees’ Retirement System have committed $50m and $75m respectively to the value-add US apartment fund

Waterton declined a request for comment. 

To read the digital edition of the latest IPE Real Assets magazine click here.

Topics