AEW Partners Real Estate Fund IX completes first close

Three months after entering the market, the AEW Partners Real Estate Fund IX has completed its first close, gathering $302 million in capital commitments against a target of $750 million.

AEW declined to comment on its recent fundraising activity.

The opportunistic fund managed by AEW Capital Management will follow the investment strategy of previous funds in the series by investing in assets throughout the United States.

According to a Form D filed with the SEC, nine investors have committed capital to AEW Partners Real Estate Fund IX to date. Among these were several public pension plans, including the Mississippi Public Employees’ Retirement System, the Wayne County (Mich.) Employees’ Retirement System, and the Alameda County (Calif.) Employees’ Retirement Association. Private clients and a large foundation also have committed capital to the fund.

Several large public plans are expected to make commitments over the next month or two, with commitm