Almanac Realty Securities IX draws in $1.6b of capital commitments
Almanac Realty Investors has secured around $1.6 billion for its Almanac Realty Securities IX fund, according to a Form D filed with the SEC.
According to the filing, this capital raised includes amounts being offered by the issuer and by NB Almanac Realty Securities IX, a “parallel fund” of the issuer. The commitments were made by 68 investors, including the Los Angeles Fire & Police Pensions, the Ohio Police & Fire Pension Fund, the Teacher Retirement System of Texas, the San Diego City Employees Retirement System, the Alaska Retirement Management Board, the Los Angeles Department of Water & Power Employees’ Retirement Plan, and the Arkansas Teacher Retirement System, among others.
The value-added closed-end fund provides growth capital to REOCs, primarily in the United States. Rather than acquiring individual properties, Almanac will invest in in