HighBrook raises $600m

The New York-based HighBrook Investors has held a final close on its largest real estate fund.

HighBrook Investors has closed its third real estate fund, HighBrook Property Fund III, and two co-investment vehicles at $600 million against its $450 million target.

Investors of the fund include foundations, endowments, wealth managers and insurance companies from the US and some European investors. Louisiana School Employees’ Retirement System committed $30 million.

Eyeing diversified property types in the US and Western Europe, particularly the Netherlands, Fund III will follow the same value-add and opportunistic strategy as its predecessors, HighBrook Income Property Fund I which raised $231.6 million and HighBrook Income Property Fund II which closed on $308.2 million, making it the largest-ever real estate fund under the firm’s management.