Torchlight Investors has so far raised 41% of the $1.5bn (€1.3bn) fundraising target it has set for its latest US real estate debt fund.
Torchlight stated in Nebraska Investment Council’s meeting document that the Torchlight Debt Fund VII fund has received $618m worth of capital commitments from investors.
Nebraska, which manages a number of state pension and retirement funds, is planning to approve a $54m commitment to the fund at its board meeting this week.
Torchlight is expected to be placing a $10m co-investment into the fund which will target traditional property types as well as hotels and student housing.
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