DivcoWest has raised $1.4 billion to date for its DivcoWest Fund V, per a SEC filing. The San Francisco-headquartered firm has set a $1.5 billion target and began fundraising in 2015. The SEC filing did not disclose whether the capital raise constituted a final or interim close.
Its previous fund raised $976 million in 2014.
Investors that committed to DivcoWest Fund V include the Texas Municipal Retirement System, the Oregon State Treasury and the California State Teachers' Retirement System.
The fund will target value added opportunities in office sectors in the United States.