CIM Group raises $405m

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CIM Group has raised $405 million for its CIM Infrastructure Fund II, according to a SEC filing. The Los Angeles-headquartered firm began fundraising in 2016 with an undisclosed target.

Its previous fund raised $205 million in 2007.

Investors that committed to CIM Infrastructure Fund II include the San Mateo County Employees' Retirement Association and the Alameda County Employees Retirement Association.

The fund will target unlisted equity opportunities in a diverse number of sectors in North America.