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Report: Investors Diversified Realty pulls in $1.5B for fund of funds

Investors Diversified Realty collected $1.5 billion in capital commitments for its Core Property Index Fund, IPE Real Assets reported, citing sources familiar with the matter.

The fund of funds has 12 institutional investors, including a $990 million contribution from the Teacher Retirement System of Texas and a $250 million contribution from the Los Angeles County Employees Retirement Association.

The manager is looking to raise at least $5 billion, and it aims to open the fund to non-US investors in 2020, the report said.

The news outlet could not get a comment on the matter from Investors Diversified.