Virginia commits $100m to global real estate fund
The Virginia Retirement System has committed $100 million to Westbrook Real Estate Fund X, according to Jeanne Chenault, a spokesperson for the pension fund.
The global real estate fund is managed by Westbrook Partners and was launched in 2014. The fund is seeking $2.5 billion.
The Westbrook fund will invest in all major property types in global markets such as Berlin, Boston, Frankfurt, London, Miami, Munich, New York City, Paris, San Francisco, Southern California, Tokyo, and Washington, D.C.
The value-added fund has received commitments from the New York State Common Retirement Fund, the San Francisco Employees’ Retirement System, the