GI Partners has closed its initial fundraising period for the firm's newest vehicle and first commingled real estate fund, the GI Real Estate Essential Tech + Science Fund (ETS Fund).
The initial fundraising period exceeded its hard cap with $1.45 billion of total commitments, representing one of the largest initial raises for an open-end real estate fund in recent years. Investors included public pensions, corporate pensions, financial institutions and investment management firms from the United States, Canada and Europe.
The Illinois State Universities Retirement System (SURS) committed $75 million to the fund in March.
GI Partners launched the ETS fund in July 2021 in an effort to invest in continuously operating real estate assets that support mission-critical functions of the technology and life sciences industries. The fund will specifically target data center properties, life sciences assets, and “always-on” research and development facilities within
