Madison Realty Capital has raised $2.08bn (€1.79bn) for its fifth real estate debt fund.

The real estate private equity firm said the amount raised for Madison Realty Capital Debt Fund V exceeded the fund’s $1.75bn target.

The amount raised also exceeds the $1.14bn raised for Madison Realty Capital Debt Fund IV in 2019.

Fund V received significant support from existing investors as approximately 70% of the institutional limited partners in Madison’s prior fund re-upped into Fund V, the manager said.

Also, 52% of the capital committed for Fund V came from new limited partners, both domestically and abroad, Madison Realty added.

As previously reported, Texas Permanent School Fund approved a $50m commitment to Fund V.  Texas Municipal Retirement System also approved a $100m commitment to the fund. 

Madison Realty said the latest fund originates and acquires loans across asset classes including multifamily, mixed-use, retail, office, industrial, land and hotel.

Madison Realty invests in transitional and special situation loans as well as provides financing for ground-up development and construction.

Adam Tantleff, managing Principal of Madison Realty Capital, said: “Our extensive experience through multiple cycles over the past 17 years is what led both existing and new investors to place their confidence in Madison during this unprecedented time. We are grateful for the trust they have placed in our team, and look forward to continue executing on our investors’ behalf.”

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