Madison Realty raises $187m for debt fund

Madison Realty Capital has raised $186.7 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 fund that will invest in debt secured by properties throughout the United States. The fund is seeking a target of $1 billion in equity commitments. The fund plans to hold a final close at the end of 2018.

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 $14.3 billion Public Employees Retirement Association