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Investors - AUGUST 11, 2014

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Colony Capital collects $170m from two pension plans

by Reg Clodfelter

Colony Capital received $150 million from the Florida State Board of Administration  and $20 million from the Fresno County (Calif.) Employees’ Retirement Association for its Colony Distressed Credit & Special Situations Fund III.

Colony’s Fund III launched in July 2013 with a $1 billion fundraising goal. The debt fund will target commercial real estate loans and loan portfolios, including NPLs and REO assets, with 60 percent of investments expected to be in the United States and 40 percent in Western Europe.

The fund will divide its exposure between loan acquisitions (45 percent), high-yielding originations (35 percent) and special situations (20 percent). Loan acquisitions will be loans and loan portfolios that can be acquired at a 30 percent to 50 percent discount

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