Related Fund Management closes debt fund at $792m

Related Fund Management (RFM) has closed its Related Real Estate Debt Fund (RDF) with $792 million of capital commitments.

The fund exceeded its $750 million target with backing from the Arizona State Retirement System and Menora Mivtachim Holdings, which were among lead investors in the fund.

“Strong investor interest in RDF was largely attributable to its strong investment track record, expertise originating unique, off-market transactions and ability to leverage Related’s 50-year history in development, construction and rehabilitation,” said Brian Sedrish, a managing director of RFM. “We look forward to exploring additional debt strategies in the year ahead as market conditions favor our distinct investment approach.”

RDF provides debt financing, structured as first mortgage whole loans, B-Notes, mezzanine loans and preferred equity secured by a diversified set of real estate assets, including residential, office, industrial, hospitality, retail and