Fundraising - AUGUST 25, 2016

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Wheelock raises $409m for fifth fund

by Andrea Waitrovich

Wheelock Street Capital has raised more than $409.23 million for its fifth fund, according to an SEC filing.

Wheelock Street Real Estate Fund V has a $725 million fundraising target.

The fund is a U.S.-focused opportunistic real estate  fund, which will invest in a broad range of real estate–related assets throughout the United States, including individual properties, portfolios and operating companies.

In March, New Jersey Division of Investment invested $100 million into Fund V. And Phoenix City Employees’ Retirement System committed $25 million in May. Both pension funds were investors in previous funds in the series.

The firm’s first fund, Wheelock Street Real Estate Fund, closed in 2012 with $525 million in commitments.  The noncore fund invested in a broad range of real estate assets th

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