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Investors - MAY 21, 2020

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Hawaii Employees approves $50m follow-on to Torchlight Debt Opportunity Fund VII

by Kali Persall

The Employees' Retirement System of the State of Hawaii (HERS) has greenlighted a $50 million follow-on commitment to Torchlight Investors’ recently launched debt fund, Torchlight Debt Opportunity Fund VII.

The value-add fund will seek to acquire real estate debt investments throughout the United States. An equity fundraising target has not been disclosed for the fund.

The commitment builds on an existing relationship between HERS and Torchlight, according to IREI’s FundTracker database. HERS also committed $20 million Torchlight Debt Opportunity Fund V and $50 million to Torchlight Debt Opportunity Fund VI in 2015 and 2017, respectively.

HERS could not be reached to comment on the latest investment at the time of publication.

Torchlight has acquired more than $23 billion in commercial real estate debt investments on behalf of institutional investors, including public and corporate pension funds, endowments and foundations, and sovereign wealth funds,

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