Pensions & Investments reports on Waterton's final close of its latest value-added real estate fund, Waterton Residential Property Venture XIV, reaching its hard cap of $1.5 billion. The fund invests in multifamily properties in major U.S. markets. The firm has already deployed capital from the fund, including the acquisition of a four- property portfolio in the greater Atlanta area, a two-property portfolio in Hawaii and three assets in California. Its predecessor fund, Waterton Residential Property Venture XIII, closed at $920 million in April 2018.