Oaktree raises $2b for real estate fund
Oaktree Capital Management has raised $1.96 billion for its Real Estate Opportunities Fund VII, according to a filing with the SEC. The opportunistic closed-end fund will invest in CMBS, mortgage debt and distressed properties in Europe and the United States.
The fund received a $200 million commitment from the $132.7 billion Teachers Retirement System of Texas in June 2016.
In addition, the fund’s feeder fund, Oaktree Real Estate Opportunities Fund VII (Feeder), raised $306 million, according to the filing with the SEC.
Oaktree is hoping to raise $3 billion in equity commitments for the fund