Oak Street holds $1.25b final close for Fund IV

Oak Street Real Estate Capital, a Chicago-based private equity real estate firm, has held a final close for Oak Street Real Estate Capital Fund IV, LP, raising $1.25 billion in total capital commitments, exceeding its $750 million equity fundraising target. The fund officially closed Sept. 29, 2017.

Fund IV follows a value-added investment strategy and will invest in triple-net lease properties throughout the United States, where demand in the sector remains strong. During the first half of 2017 volume was up 5 percent versus first half of 2016, according to CBRE. Sales growth in net-lease office and industrial is making up for a slight decline in net-lease retail.

Oak Street received committed capital from multiple public and corporate pension plans, including $100 million from the Pennsylvania State Employees’ Retirement System, $100 million from the Teachers’ Retirement System of the State o