The strategy is the second-largest in the Los Angeles-based firm’s real assets business after US real estate equity.
Hamid Moghadam says the logistics real estate giant is now focusing on acquiring assets with higher-return potential.
The Washington, DC-based firm’s chief executive was optimistic about both fundraising and deal activity in the asset class going forward.
The Los Angeles-based manager raised an aggregate $500m for its funds targeting the strategy in the second quarter of 2023.