Berkeley Partners’ fund reaches fundraising target in final close
Berkeley Partners has held a $275 million final close for IC Berkeley Partners IV, reaching its fundraising target, according to IREI’s FundTracker database. IC Berkeley Partners IV opened in April 2016. It is a value-added real estate fund that will invest in warehouse properties throughout the United States. The fund has received commitments from the Texas Municipal Retirement System, the Employees’ Retirement System of Rhode Island and the Houston Municipal Employees Pension System. The fund’s predecessor, IC Berkeley Partners III, held a $125 million final close in 2014. Berkeley Partners and its affiliated entities comprise a fully integrated principal investment firm focused exclusively on multi-tenant light industrial real estate. The firm and its affiliated entities own and operate more than 5 million square feet of light industrial real estate in some of the fastest-growing U.S. cities and submarkets.