The $84.2 billion Michigan Office of Retirement Services has committed $100 million to Rialto Real Estate Fund IV – Debt and €32.5 million ($39 million) to BGO Europe III Co-Investment, a spokesperson for the pension fund confirmed in an email. These were both existing relationships for Michigan.
Rialto Real Estate Fund IV – Debt, managed by Miami-based Rialto Capital Management, will invest primarily in real estate debt and properties in the United States. As of March, the fund had raised $1.9 billion, against an undisclosed fundraising target.
Rialto has a history of large capital raises across its real estate debt fund series. The fund’s predecessor, Rialto Real Estate Fund III, raised $1.5 billion in 2017. Rialto Real Estate Fund II raised $1.305 billion in 2013 and the first fund in the series, Rialto Real Estate Fund, raised $700 million in 2010.
Michigan previously commi
