The Minnesota Board of Investment (BOI), with $85.7 billion of assets under management, has approved a commitment of $150 million to Torchlight Debt Opportunity Fund (TDOF) VIII.
TDOF VIII, managed by Torchlight Investors, will invest in debt and CMBS in CBD office, hotel, industrial, multifamily and retail markets.
TDOF VII, TDOF VIII’s predecessor, closed in October 2021 with $2.04 billion of committed capital, having exceeded its initial $1.5 billion target.
Minnesota BOI’s real estate investments yielded a return loss of 3.3 percent for the fiscal year that ended June 30. During the past three, five and 10 years, the Minnesota BOI’s real estate investments have generated annualized net returns of 16.7 percent, 12.4 percent and 12.7 percent, respectively.
For more information about this commitment or other funds, please visit our IREI.QÂ
