The $22.4 billion Orange County (Calif.) Employees Retirement System (OCERS) contributed $75 million to the final close of Asana Partners Fund III, which took place in March.
Asana Partners Fund III, managed by Asana Partners, wrapped up fundraising with $1.5 billion of equity commitments, reaching its hard cap.
The fund was oversubscribed within six months of commencing the marketing process, according to the firm. A diverse group of institutional investors from North America, Europe and Asia Pacific participated in the capital raise.
Asana Partners Fund III is Asana Partners’ fifth fund and the third in its flagship series of value-add vehicles focused on acquiring and repositioning mixed-use assets in high-quality urban and near-urban neighborhoods in the United States.
As of Dec. 31, 2021, OCERS had a 9.8 percent allocation to real assets, which includes real estate,
