LADWP pension commits $250m to three real estate funds
SWBC's second multifamily fund targets $200 million, and Belay's Form D shows $340 million sold of a $750 million offering.
At a glance
The Los Angeles Department of Water and Power pension committed $250 million across three real estate funds — Vistria, Locust Point and DRA — according to the pension's disclosure.
SWBC Real Estate launched its second multifamily fund on Oct. 13 with a $200 million target, according to a public filing.
Belay Real Estate Ventures Fund IV filed a Form D on Oct. 9 covering a $750 million offering, of which $340 million had been sold.
The Los Angeles Department of Water and Power pension committed $250 million across three real estate funds — Vistria, Locust Point and DRA — according to the pension's disclosure. The money splits $100 million to workforce housing, $75 million to senior housing credit and $75 million to a diversified value-add strategy.
SWBC second multifamily fund and Belay filing
SWBC Real Estate launched its second multifamily fund on Oct. 13 with a $200 million target, according to a public filing. SWBC RE Fund II follows a first fund that drew $125 million in commitments, so the new vehicle opens at a larger number than its predecessor raised.
Belay Real Estate Ventures Fund IV filed a Form D on Oct. 9 covering a $750 million offering, of which $340 million had been sold. The first sale was Sept. 30. The filing names Belay Capital IV, LLC, Eliza Bailey and Amy Ko as related persons and classifies the issuer as an "other investment fund" within the pooled investment fund industry group. It does not detail a strategy.
| Vehicle | What is disclosed | Size |
|---|---|---|
| LADWP commitments | Across Vistria, Locust Point and DRA: $100m workforce housing, $75m senior housing credit, $75m diversified value-add | $250m committed |
| SWBC RE Fund II | Second multifamily fund, launched Oct. 13 | $200m target |
| Belay Real Estate Ventures Fund IV | Form D filed Oct. 9; first sale Sept. 30; classified "other investment fund" | $750m offering; $340m sold |
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