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AEW Capital Management announced it has reached the final close on its AEW Partners Real Estate Fund X, L.P. (PX), securing total equity commitments of $1.77 billion. This marks a significant milestone, exceeding the total raised by its predecessor fund closed in 2021. PX represents the 10th vintage in AEW’s opportunistic fund series, which began in 1988.
Following the strategy of previous funds, PX employs a sector-diversified opportunistic approach. It maintains the flexibility to capitalize on market dislocations across various property types. The fund’s initial portfolio includes targeted investments in high-conviction sectors such as senior housing, multifamily, industrial, and retail. AEW aims to construct a portfolio that is well-diversified by both sector and geographic location.
“We’re deeply grateful for the continued trust and partnership of our clients, as well as our advisors—it has been instrumental to our success,” said Tony Crooks, Managing Director and Senior Portfolio Manager of the AEW Partners Funds. “Looking ahead, we’re excited to be investing in what we believe is one of the most compelling market environments of the past decade.”
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