Westbrook's latest real estate fund gains further US pension fund backing
Westbrook Partners’ latest opportunistic property fund has attracted $200m (€178m) worth of new commitments from two US public pension funds.
Virginia Retirement System and Mississippi Public Employees Retirement System said they had committed $125m and $75m, respectively, to Westbrook Real Estate Fund XI.
Westbrook’s fundraising target is unknown, although it raised $2.85bn for its previous fund in February 2016.
According to sources, the fund will invest globally and is likely to target returns greater than 15%.