Global asset manager PineBridge Investments Middle East has held a first close on PineBridge GCC Real Estate Fund I with more than US$140 million in capital commitments. The Shari’a compliant fund, which has a final target of US$200 million, will invest in income-producing real estate assets in the Gulf Cooperation Council (GCC) countries, with a focus on logistics and warehousing, healthcare and education infrastructure and retail.