Fundraising - JUNE 23, 2015

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AllianceBernstein fund surpasses $1b target

by Andrea Waitrovich

AllianceBernstein has announced the closing of U.S. Real Estate Partners II, with total commitments of $1.2 billion, surpassing its $1 billion equity fundraising target.

ABREP II closed in less than 12 months, securing commitments from all previous institutional investors in the $680 million predecessor fund, ABREP I, while also including new pension funds in the United States, Canada and Europe; insurers; endowments and foundations; family offices; and individual investors.

ABREP II will seek to capitalize on a compelling environment for opportunistic special situations, investing across the U.S. real estate markets. The strategy remains consistent with that of ABREP I, which invested in a variety of products including multifamily, office, hospitality and land across a spectrum of investment profiles ranging from cash-flowing assets to major repositioning and development.

To date, ABREP II has committed approximately $170 million through five investm

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