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Man Group hits fundraising market with new US residential real estate fund

London-based investment manager Man Group PLC launched its first commingled property fund since acquiring Aalto Invest Holding AG in 2017, PERE News reported.

The Man GPM US Residential Real Estate Fund, which did not disclose a fundraising target, has so far raised US$25 million, according to an SEC filing. Unnamed sources told PERE that this seed capital came from Man Group and that the new fund is the first open-ended real estate fund for Man Group.

The fund targets investments in the U.S. single-family residential market, particularly in the nation's Southeast and Midwestern regions, as well as California, according to the report.