Fundraising - DECEMBER 10, 2015

PW Real Assets raises $565m for third fund

by Zoë Wolff

PW Real Assets, formerly Perella Weinberg, has raised $564.7 million for PW Real Estate Fund III, according to a filing with the SEC.

The fund targets properties in France, Germany, Ireland, Portugal, Spain and the United Kingdom, as well as Central and Eastern Europe. The opportunistic fund is seeking to raise €1.5 billion ($1.7 billion).

Recent investors in the fund include the Texas County & District Retirement System, the Houston Municipal Employees Pension System, the Public Employees Retirement Association of New Mexico, the Ohio Police & Fire Pension Fund and the New Jersey Division of Investment.

Perella Weinberg Real Estate Fund II held a final close of €1.3 billion ($1.42 billion) in 2013.

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