Rockwood Capital closes 10th real estate fund at $1.1 billion

Rockwood Capital closed its latest real estate fund, Rockwood Capital Real Estate Partners Fund X, at its $1.1 billion hard cap, spokeswoman Caroline Luz said in an email.

Rockwood Capital Real Estate Partners X is a value-added fund that will invest in office, residential, retail and hotel properties in urban and suburban core mixed-use projects in the U.S.

Some 30% of the committed capital has already been invested in nine properties. The fund had an $800 million fundraising target.

Rockwood Capital Real Estate Partners IX closed in 2013 with $678 million, less than its $800 million fundraising target.

More than 60% of the new fund's investors have invested in Rockwood Capital funds in the past. Investors in the current fund include $80 billion Minnesota State Board of Investment, St. Paul; $36.3 billion Illinois Municipal Retirement Fund, Oak Brook; and the $23.1 billion Nebraska Investment Council, Lincoln.