Harbert United States Real Estate Fund VIII secures $251m of commitments

Harbert United States Real Estate Fund VIII, a value-add fund managed by Harbert Management Corp., has raised $251 million against an equity fundraising target of $750 million, according to a recent SEC filing.

The fund seeks to invest in value-added CBD office, industrial, multifamily and retail assets across the United States. In late 2022, it secured a $75 million investment from the Teachers' Retirement System (TRS) of Louisiana.

The previous fund in the series, Harbert U.S. Real Estate Fund VII, closed in May 2021 with $521 million of equity commitments, including co-investment capital. The strategy focuses on primary markets with strong job growth, diversified economies and a depth of institutional ownership.