Related Fund Management is seeking $1.5 billion in capital commitments for its third real estate fund, which launched in July.
If it reaches its target, Related Real Estate Fund III would be Related’s largest-ever real estate fund, trumping its predecessor by 50 percent.
The firm could not be reached to comment on its latest fundraising efforts.
The Teachers’ Retirement System of Louisiana (TRSL) confirmed a commitment of up to $50 million to Related Real Estate Fund III and revealed that Related expects to invest 40 percent in the residential sector, 35 percent in offices and 15 percent in hospitality and 15 percent opportunistically in a fund review document.
TRSL previously invested in the fund's predecessor, Related Real Estate Fund II.
According to the review, Related will deploy 40 percent of the fund in the eastern part of the United States with a focus on th
