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Fundraising - FEBRUARY 26, 2018

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Mesirow Financial raises $351m for value-added fund

by Jody Barhanovich

Mesirow Financial, an independent financial services firm based in Chicago, has raised $351 million for Mesirow Financial Real Estate Value Fund III, according to a filing with the SEC. The firm did not comment on its fundraising efforts. The firm is seeking to raise $750 million in total equity commitments for the fund, according to the filing. The closed-end Mesirow Financial Real Estate Value Fund III is a value-added real estate fund that will invest in multifamily assets throughout the United States. The fund recently received a $10 million commitment from the $1.2 billion Chicago Laborers’ Annuity & Benefit Fund. The fund’s predecessor, Mesirow Financial Real Estate Value Fund II, held a $542.45 million final close in June 2015, exceeding its $500 million fundraising goal. Mesirow Financial had $35.5 billion in assets under management as of Dec. 31, 2017.

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