C
arlyle Realty Partners X, a $10bn opportunistic real estate fund, has secured a significant commitment from the District of Columbia Retirement Board. The pension fund has pledged $100m to the fund, which is seeking to raise a total of $8bn.
The investment period for Realty Partners X is not expected to begin until late 2024 or early 2025, making it a blind pool. This structure allows investors to avoid committing capital to assets that may be experiencing value declines.
The fund will focus on sectors driven by demographics and technology, such as residential, self-storage, and industrial properties. These investments are expected to generate returns of 14-17% net internal rate of return. Up to 5% of the fund's capital can be invested outside of the US and Canada.
