Rubenstein Partners has raised $511 million for its Rubenstein Properties Fund III, according to an SEC filing.
The Philadelphia-based firm began fundraising in 2015 with an undisclosed target. Its previous fund raised $515 million in 2014.
Investors that committed to Rubenstein Properties Fund III include the Texas Municipal Retirement System, the Maine Public Employees Retirement System and the Arizona Public Safety Personnel Retirement System.
The fund will target value added opportunities in office properties in the US.