DRA Growth & Income Fund X, a value-added fund managed by DRA Advisors, has closed on its $1.9 billion fundraising target with the help of a master fund, an SEC Form D has revealed.
A spokesperson for DRA confirmed that the final close was held on Feb. 28.
DRA Growth & Income Fund X will invest in a diversified portfolio of office, industrial, multifamily and retail properties in primary and secondary markets throughout the United States.
In January, Los Angeles Water and Power Employees’ Retirement Plan backed DRA Growth and Income Fund X with a $60 million commitment from its Retirement Fund and $15 million on behalf of its Retiree Health Benefits Fund. Other investors include two pension funds from the city of San Jose and the Pennsylvania Public School Employees’ Retirement System.
