Europeans, Japanese boost Roc fund to $250M

Europeans, Japanese pension funds helped boost a Rockefeller Group property purse to $250 million.
The global property owner, developer and investment manager announced it has completed fundraising for Rockefeller Group U.S. Premier Office Fund LP.
The $250 million raised was contributed largely by nine third-party investors — including Japanese and European pension plans — alongside co-investment capital from The Rockefeller Group and its senior executives.
Approximately 60 percent of the fund’s equity has been invested prior to closing.
Through joint-venture acquisitions, the fund has acquired some 1.3 million square feet of Class A office space in Washington, D.C. and San Francisco, aggregating approximately $700 million in gross asset value.
The fund continues to target premier office properties in the gateway markets of Boston, Los Angeles, New York, San Francisco and Washington, D.C.
“Our investors share our confidence in the stability and value of high quality, well-located office assets in core U.S. markets,” said Dennis R. Irvin, CEO of Rockefeller Group Investment Management Corp.
“In addition to the fund’s existing portfolio, we see good opportunities today in our target markets to leverage our extensive operating expertise to provide investors favorable returns and capital appreciation.”
The fund is the first U.S.-focused real estate fund raised by Rockefeller Group Investment Management Corp., the firm’s investment management subsidiary and the fund’s manager.
Rockefeller has provided access to European property funds since 2010, following its investment in Europa Capital, a London-based fund manager that has invested across 17 countries.