Waterton raises $1.5 billion for latest value-added real estate fund
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Waterton held a final close of its latest value-added real estate fund, Waterton Residential Property Venture XIV, reaching its hard cap of $1.5 billion.
The fund invests in multifamily properties in major U.S. markets. The firm has already deployed capital from the fund, including the acquisition of a four-property portfolio in the greater Atlanta area, a two-property portfolio in Hawaii and three assets in California.
Its predecessor fund, Waterton Residential Property Venture XIII, closed at $920 million in April 2018.
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Louisiana Teachers puts up to $100 million into private debt, real estate
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Louisiana Teachers Retirement System, Baton Rouge, made two new commitments totaling up to $100 million, said Dana T. Brown, director of public markets.
The $23.4 billion pension fund committed up to $75 million to Carlyle Credit Opportunities Fund II, a middle-market direct lending fund managed by
Carlyle Group, and up to $25 million to Cabot Industrial Value Fund VI, a value-added real estate fund managed by
Cabot Properties.
As of Dec. 31, the actual allocations to real estate and private market debt were 9% and 6%, respectively.
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Louisiana Teachers looking for managers to run up to $1.4 billion
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Louisiana Teachers Retirement System, Baton Rouge, is searching for active emerging markets equity managers to run up to $1.4 billion.
The $23.4 billion pension fund has issued a solicitation for proposals due to the pending expiration of the contracts of value manager Dimensional Fund Advisors and growth manager Harding Loevner, which evenly split the portfolio.
Both firms are eligible to rebid, said Dana T. Brown, director of public markets.
The pension fund s target allocation to emerging markets equities is 8%. As of Dec. 31, the actual allocation was 7%.
The SFP is available on the pension fund s website. Proposals are due at 4:30 p.m. CST on March 8. A selection is expected on May 7.
Kohlberg closes latest private equity fund at $3.4 billion
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Kohlberg & Co., a middle-market private equity firm, closed its latest fund, Kohlberg Investors IX, at $3.4 billion.
Kohlberg Investors IX is above its fundraising target of $3 billion, hitting its hard cap, said sources with knowledge of the fundraising. The fund also is 54.5% larger than its predecessor, $2.2 billion Kohlberg Investors VIII, which closed in 2016, a news release Tuesday said. Kohlberg is delighted to have received such strong support from our existing limited partners and to have been able to secure commitments from several new investors, many through entirely virtual diligence, said Shant Mardirossian, Kohlberg chief operating officer, in the release.
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