PW Real Assets holds final close for third fund

PW Real Assets, formerly Perella Weinberg, has held a final close of €1.5 billion ($1.7 billion) for its PW Real Estate Fund III, meeting its fundraising target, according to IREI’s FundTracker database.

The fund targets properties in France, Germany, Ireland, Portugal, Spain and the United Kingdom, as well as Central and Eastern Europe. The fund held an initial close in December 2015 of $564.7 million.

The opportunistic fund received commitments from the Texas County & District Retirement System, the Houston Municipal Employees Pension System, the Public Employees Retirement Association of New Mexico, the Ohio Police & Fire Pension Fund and the New Jersey Division of Investment.

Perella Weinberg Real Estate Fund II, the fund’s predecessor, held a final close of €1.3 billion ($1.42 billion) in 2013.

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