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Iowa Municipal invests $50m in debt fund

by Andrea Waitrovich

The $2.2 billion Iowa Municipal Fire & Police Retirement System has committed $50 million to Contrarian Distressed Real Estate Debt Fund III, a recently launched fund managed by Contrarian Capital Management.

Contrarian Distressed Real Estate Debt Fund III invests in U.S. distressed mortgages, debt and properties. The fund aims to raise $750 million in equity commitments.

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