Virginia Retirement System contributes to $2.3b final closing of Crow Holdings Realty Partners Fund IX

Virginia Retirement System (VRS) has disclosed a $150 million investment in the closed-end Crow Holdings Realty Partners Fund IX during the month of September, contributing to the vehicle’s $2.3 billion final close and the firm’s largest fundraise to-date.

Fund IX surpassed its original hard cap of $2 billion and will focus on value-add real estate assets across the United States, primarily in industrial and multifamily. The fund will also invest in specialty sector opportunities such as manufactured housing, convenience and gas, self-storage, and student housing.

Crow Holdings said more than 63 percent of the fund’s capital has already been committed across 62 investments, located primarily in the high-growth Southwest, Southeast and Mountain regions of the United States.

In August, VRS reported