Oak Street raises $380m for real estate fund
Oak Street Real Estate Capital has raised $380 million for Oak Street Real Estate Capital Fund IV, according to a filing with the SEC.
Oak Street Real Estate Capital Fund IV is a closed-end real estate fund that follows a value-added investment strategy. The fund will invest in triple-net lease properties throughout the United States. The fund has a $1 billion equity fundraising target, with a fundraising maximum of $1.25 billion.
The fund previously received a $100 million commitment from the $45.9 billion Teachers’ Retirement System of the State of Illinois and a $75 million commitment from the $34.7 billion Illinois Municipal Retirement Fund.
The fund’s predecessor, Oak Street Real Estate Capital Fund III, held a $515 million final close in March 2016, exceeding its $300 million equity fundraising target.