Oaktree Capital Management closes third real estate debt fund at $3b

Oaktree Capital Management has closed on $3 billion in capital commitments for its third global real estate debt fund, Real Estate Debt Fund III (REDF III), and its related vehicles.

Closing at 34 percent larger than its predecessor fund, REDF III represents the largest-ever capital raise for Oaktree’s Real Estate Debt strategy.

Oaktree’s Real Estate Debt strategy invests across a broad landscape of commercial and residential real estate debt opportunities, including commercial and residential first mortgages, commercial property mezzanine loans, real estate structured credit, and real estate-related corporate debt.

“This successful close is a testament to the strength of Oaktree’s Real Estate Debt strategy and the global team we’ve built over the last decade,” said John Brady, portfolio manager and head of the global real estate group at Oaktree. “Investors around the world increasingly want exposure to real estate debt due to its potential to off