Admiral Capital raises $123m

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Admiral Capital Group has raised $123 million to date for its Admiral Capital Real Estate Fund II. The New York-headquartered firm had a $175 million target and began fundraising in 2015.

Its previous fund raised $115 million in 2012.

Investors that committed to Admiral Capital Real Estate Fund II include the Teacher Retirement System of Texas.

The fund will target value added opportunities in a diverse number of sectors in the United States.