The Employees' Retirement System of Rhode Island (ERSRI) contributed to Crow Holdings Realty Partners IX’s $2.3 billion final close, according to a meeting document from August.
The pension fund committed $40 million to the fund on behalf of its noncore real estate allocation. According to a spokesperson for ERSRI, this was ERSRI’s first commitment to Crow’s diversified value-add fund family (Crow Holdings Realty Partners), however, ERSRI previously committed to Crow’s dedicated food & service retail fund, Crow Holdings Retail Fund, in 2015.
In September, Crow Holdings Realty Partners IX surpassed its original hard cap of $2 billion. making it the firm’s largest fundraise to-date. The vehicle invests in value-add real estate assets across the United States, primarily in industrial and multifamily, as well as in specialty sector opportunities
