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Fairfield held a final close for its Fairfield U.S. Multifamily Value Add Fund IV with $1.47 billion in equity commitments, according to a statement from the firm. With an initial fundraising goal of $1 billion, the fund raised $470 million in equity over its target. It is a value-added, closed-end fund, with a focus on class B and class C apartment assets in the United States. Its predecessor, Fairfield Value Add Fund III, closed with $1 billion in equity.