The Nebraska Investment Council (NIC) is planning to allocate $54 million to Torchlight Debt Opportunity Fund VII, a closed-end real estate debt fund managed by Torchlight Investors.
NIC could not be reached to comment on its fundraising activity at the time of publication.
The $1.5 billion value-add fund reported a first close last week, securing $727 million in capital commitments. The vehicle is targeting real estate debt investments throughout the United States and is believed to be on track with its latest fundraise, with an additional close expected at the month’s end.
NIC’s $54 million commitment to Torchlight VII will be parsed out as follows: $50 million to the Defined Benefit and Cash Balance Benefit Plans, $3 million to the General Endowments, and $1 million to the Health Care Endowment, according to board
