Dallas–Fort Worth International Airport Board Retirement Trust has approved a $7.5 million commitment to Torchlight Debt Fund VII, according to a March 4 board meeting document.
Torchlight Debt Fund VII is a value-add debt fund managed by Torchlight Investors. The fund will invest in real estate debt investments throughout the United States.
At first close in 2020, the investor base consisted predominantly of existing investors from previous funds in the series, but also included several new investors. As of August, the fund had reached $1.13 billion against a target of $1.5 billion.
The previous fund in the series, Torchlight Debt Fund VI, closed in February 2019 with $1.7 billion in capital commitments, surpassing its $1.5 billion fundraising target.
