Perella Weinberg Partners closed its second European opportunistic real estate fund, Perella Weinberg Real Estate Fund II, with €1.3 billion ($1.73 billion), according to sources familiar with the closing.
Perella's new fund raised slightly more capital than its first, which closed in 2008 with €1.2 billion. Fund II had a hard cap of €1.5, according to materials on the website of the $75.3 billion New Jersey Division of Investment, Trenton, an investor in the fund.
Kara Findlay. Perella Weinberg Partners spokeswoman, declined comment.
The firm and Leon Bressler, the managing partner who manages the fund, are expected to contribute a combined €85 million to the fund.
Other investors in the fund include the $95.1 billion New York State Teachers' Retirement System, Albany, and $17.3 billion New Mexico State Investment Council, Santa Fe.