CBRE Global Investors closed its latest U.S. enhanced return fund, CBRE Strategic Partners U.S. Value 8, at $1.34 billion, spokeswoman Pam Barnett said in an email.
The new fund is the same size as the prior fund, CBRE Strategic Partners U.S. Value 7, which closed in 2015.
Including leverage, the fund has the ability to invest in $3.3 billion of assets. The fund has already invested $2 billion in 17 office, multifamily, mixed-use and logistics properties.
There are 25 institutional investors based in the U.S., Europe, the Middle East and Asia in the fund, and they include the $18 billion Kansas Public Employees Retirement System, Topeka; $16.3 billion Hawaii Employees’ Retirement System, Honolulu; and Montana Board of Investments, Helena, which oversees roughly $11 billion in pension fund assets.