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Investments

Heitman closes value-added real estate fund at $1.1 billion

Real estate money manager Heitman said Thursday it has closed the $1.1 billion Heitman Value Partners IV fund.

The North American closed-end value-added real estate fund closed well above its $750 million fundraising target, Heitman said in a news release. The previous fund, Heitman Value Partners III, closed at $690 million, a spokeswoman said.

Investors include the $213.2 billion New York State Common Retirement Fund, Albany; $194.4 billion Florida State Board of Administration, Tallahassee; $10.8 billion Chicago Public School Teachers' Pension & Retirement Fund; $1.5 billion Tallahassee (Fla.) Pension Plan; and $8.1 billion Alameda County Employees' Retirement Association, Oakland, Calif.