CBRE Global raises $606m for eighth U.S. Value fund
CBRE Global Investors has raised more than $606 million for its eighth fund, CBRE Strategic Partners U.S. Value 8, according to an SEC filing.
A fundraising target was not listed; however, the IREI FundTracker database lists a $1.5 billion fundraising goal and a targeted closing date of June 2017.
The value-added fund launched in February 2016. The fund series targets value-add investments in major and secondary U.S. markets, focusing on class A office, industrial, retail and multifamily properties.
Recently, Illinois Municipal Retirement Fund made a $35 million commitment to CBRE Strategic Partners U.S. Value 8, matching similar investments in 2012 and 2014 to the previous two offerings in the fund series.