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Alternative Market Briefing

Heitman raises $3.2bn for three private funds

Thursday, July 22, 2021

Laxman Pai, Opalesque Asia:

Global real estate investment management firm Heitman has closed three of its private funds, raising about $3.15 billion in capital commitments among them.

The chicago-based firm said in a press release that it raised roughly $1.9 billion for Heitman Value Partners V (HVP V), a North American closed-end value-added real estate fund, exceeding its hard cap.

The real estate money manager also received $750 million in capital commitments for Heitman Global Real Estate Partners II (G II), a global core-plus fund; and $500 million for Heitman Real Estate Debt Partners II (HDP II), a North American high-yield debt fund.

Combined, the closings totaled approximately $3.2 billion in equity commitments, which includes commitments to the funds and co-investment vehicles that will deploy capital alongside certain of these funds.

Heitman-which had roughly $44 billion in assets under management as of June 30-raised money from institutional investors including sovereign wealth funds, pension plans, foundations, and corporations across the globe.

Investors in Heitman HVP V include Mississippi Public Employees' Retirement System, Jackson; Kansas Public Employees Retirement System, Topeka; Chicago Public School Teachers' Pension & Retirement Fund; and Memphis (Tenn.) Light, Gas & Water Division.

The Madison-based State of Wisconsin Investment Board, which manages $143.9 billion in assets, including the $120.2 billion Wisconsin Retiremen......................

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