Westbrook Partners has secured $2.5 billion in equity commitments for its newest value-add fund, Westbrook Real Estate Fund XI.
The 11th fund in the series is looking to invest in value-add office, debt, distressed properties, hotel, industrial, multifamily, retail and single-family assets in France, Germany, Japan and the United Kingdom.
Westbrook’s investor base comprises institutional investors, including endowments, foundations, financial institutions, and public and private pension funds. Backers of Westbrook Real Estate Fund XI included Maine Public Employees Retirement System, Teacher Retirement System of Texas, Virginia Retirement System, Public Employees’ Retirement System of Mississippi, State Universities Retirement System of Illinois and the New York State Teachers’ Retirement System.
The large amount of capital collected is consistent with other fundraises for previous vehicles in the fund series. For example, the fund’s direct predecessor,
