Fundraising - FEBRUARY 26, 2014

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AEW raises $174m for opportunistic fund

by Andrea Waitrovich

AEW Capital Management has raised $174.7 million for its AEW Partners VII, according to a filing with the SEC. The opportunistic fund launched in January 2012 with a $500 million target. A final close date was not disclosed.

AEW VII invests in nonperforming and defaulted loans where the title to the underlying property could be obtained, as well as acquiring high-quality, well-located assets at significant discounts to replacement cost from lenders selling as a result of balance sheet or regulatory pressure. The majority of investments will be in North America, but approximately 15 percent of the portfolio can be invested outside the region.

AEW Partners VII is part of the AEW Partners opportunistic fund series, which started in 1988 with the $934 million AEW Partners. Its predecessor AE

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