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JER closes $220M

JER Investors Trust Inc. (NYSE: JRT) and JER Partners, the private equity arm of J.E. Robert Cos. has closed a new $220 million fund known as the JER US Debt Co-Investment Vehicle LP. The fund will be co-managed by JRT and JER Partners. The California Public Employees' Retirement System has agreed to invest $200 million in the Fund, and JRT and JER Partners will each invest $10 million.