Fundraising - APRIL 30, 2014

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Och-Ziff raises $1b for third fund

by Andrea Waitrovich

Och-Ziff Real Estate Advisors has raised $1 billion for its Och-Ziff Real Estate Fund III, according to filings with the SEC, achieving its fundraising target. The fund launched in December 2013.

An official announcement has not been released. Och-Ziff contributed at least 7.5 percent, or $75 million.

The fund is expected to invest in a 50-50 split between traditional real estate assets (multifamily, office, hotel and retail) and non-traditional real estate assets (including gaming, distressed land and residential, cellular towers, parking, golf, debt and senior housing).

OZRE III follows the deployment of the two predecessor funds raised and invested from 2004 to present. Collectively, these predecessor opportunity funds raised over $1.2 billion of equity commitments.

The billion-dollar equity raise follows many recent mega-fund capital raisings and closings.

Recently, Walton Stre

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