Fundraising - APRIL 30, 2014

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Oaktree raises $678m for debt fund

by Reg Clodfelter

Oaktree Capital Management has raised $678 million for its $700 million debt fund, Oaktree Real Estate Debt Fund, according to a filing with the SEC. An official announcement has not been released. 

The fund launched a year ago with a fundraising goal of $500 million to $700 million. It pursues investments in CMBS, first mortgages, subordinated secured debt, mezzanine debt and corporate debt. The fund is targeting a levered gross return of 12 percent. The fund has a six-year term and is subject to up to a three-year extension by the fund’s general partner and, thereafter, two one-year extensions with limited partner consent

Institutional investors that committed to the fund this year include the Orange County (Calif.) Employees Retirement System, which

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