News
BREAKING: Invesco Closes $750M Fund, Beats Target By 50%
March 8, 2016
Youtube/Wikipedia
Private equity firm Invesco closed its latest value-add fund at $750M raised over the past few weeks—crushing its $500M target by 50%. The fund, named Invesco US Value-Add Fund IV, has a 15% return target on investment.
Investment was led by the Teacher Retirement System of Texas at $200M, and included several other retirement organizations, like the Contra Costa County Employees’ Retirement Association ($35M) and San Mateo County Employees’ Retirement Association ($30M), PERE News reports.
The fund is meant for investment in two types of real estate, “broken core” (fixer-upper core assets in primary markets) and “inefficiently priced commodity” properties in non-primary markets. [PERE]
