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Lubert-Adler Partners raises $422m

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Lubert-Adler Partners has raised $422 million for its Lubert-Adler / Laramar Urban Neighborhood Fund, according to a SEC filing. The Philadelphia-headquartered firm began fundraising in 2015 with a $400 million target.

Investors that committed to Lubert-Adler / Laramar Urban Neighborhood Fund include the Arizona Public Safety Personnel Retirement System and the School Employees' Retirement System of Ohio.

The fund will target value added opportunities in multifamily/residential and retail sectors in the United States.