The New Jersey Division of Investment, which makes investments for the $78.5 billion New Jersey Pension Fund, has made a $100 million investment in a fund managed by DivcoWest Real Estate Services.
DivcoWest Fund VI launched in November 2019 with a $2 billion fundraising target. If it reaches its fundraising target, DivcoWest Fund VI is expected to be the largest fund raised by the company.
DivcoWest Fund V held a final close in 2017, exceeding its $1.5 billion target. The fund’s commitments totaled approximately $1.585 billion, making it DivcoWest’s largest fund at the time.
In common with DivcoWest’s five prior funds, the series will primarily invest in office and R&D properties located in select innovation markets characterized by strong education, employment, amenities and transportation systems with high barriers to entry including but not limited to Austin, Boston, New
