Investors Diversified Realty’s Core Property Index Fund raises $1.5b
Fundraising - DECEMBER 20, 2019

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Investors Diversified Realty’s Core Property Index Fund raises $1.5b

by Andrea Zander

Ohio-based Investors Diversified Realty (IDR) has locked in $1.5 billion in capital commitments for its open-end NCREIF NFI-ODCE Index fund, a year after launching.

IDR declined to comment on its fundraising efforts.

The Core Property Index Fund was reportedly one of the first open-end private equity real estate funds designed to track the NCREIF NFI-ODCE Index. The fund’s design mirrors the NCREIF NFI-ODCE metrics of property-type weightings, regional diversification, number of properties, leverage and occupancy.

“The Index Fund is a first-of-its-kind product to invest into a private-market real estate index,” said Jared Morris, real assets – investment manager at Texas TRS, which seeded the Index fund. “It provides a turnkey solution to access returns of the most widely accepted private-market real estate benchmark, NFI-ODCE, with low tracking error.

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