CBRE Global launches new fund
CBRE Global Investors, a global real asset investment management firm, has launched a new real estate fund, CBRE U.S. Development Partners 5, according to a filing with the SEC and board documents from Texas TRS. The firm did not comment on its fundraising efforts.
The fund has already received a $200 million commitment from the Teacher Retirement System of Texas, according to Rhonda Price, communications manager for the pension fund.
Texas TRS has previously committed to CBRE Global managed funds, including $200 million to CBRE Strategic Partners U.S. Value 8, a value-added fund that invests in major and secondary U.S. markets, focusing on class A office, industrial, retail and multifamily properties. The fund held a $1.34 billion final close in 2017.
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