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AEW Capital Management has held a final closing for its AEW Partners Real Estate Fund X (PX), with total equity commitments of $1.77 billion, surpassing its predecessor, AEW Partners IX, which had a final closing in 2021. With more than three decades of history, PX marks the 10th vintage in AEW’s opportunistic fund series, which extends back to 1988.

Consistent with prior vintages, PX follows a sector-diversified opportunistic strategy with the flexibility to target dislocations in specific property types. The Fund’s seed portfolio includes investments in high-conviction sectors such as senior housing, multifamily, industrial, and retail, and aims to build a portfolio that is diversified by both sector and geography.