Madison Realty Capital raises $554m for debt fund

Madison Realty Capital has raised $554 million for Madison Realty Capital Debt Fund IV, according to a filing with the SEC. The firm did not comment on its fundraising efforts. Madison Realty Capital Debt Fund IV is a closed-end, value-added real estate vehicle that will invest in debt secured by properties throughout the United States. The fund is seeking a maximum fundraising target of $1 billion in equity commitments, according to the filing. MRC Debt Fund IV follows its predecessor, Madison Realty Capital Debt Fund III, which held a $695 million final close in May 2016, exceeding its $600 million fundraising target. The fund received commitments from the Public Employees Retirement Association of New Mexico, the Oregon Public Employees Retirement Fund and the New York State Teachers’ Retirement System. MRC’s previous debt vehicle, Sullivan Debt Fund,