Houston Firefighters commits $30m to Rialto Real Estate Fund V

The Houston Firefighters’ Relief and Retirement Fund has committed $30 million to Rialto Real Estate Fund (RREF) V.

Managed by Miami-based Rialto Capital Management, RREF V will invest in a variety of structures in the United States, such as real estate debt–backed securities, senior secured and subordinated real estate loans, preferred equity and other high-yield debt, such as standalone, portfolio and platform-based real estate credit investments and asset-backed real estate financings.

At the time of publishing, RREF V’s target capital raise is unknown. Rialto Real Estate Fund IV closed in spring 2021 with $1.9 billion of committed capital.

As of 2022, the Houston Firefighters’ Relief and Retirement Fund had $5.1 billion of assets under management, with 7 percent of that allocated toward real estate and 4 percent toward private debt.

For more information about this fund and others, visit the IREI.Q d