Fundraising - FEBRUARY 16, 2017

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Rialto raises $1.39b for third real estate fund

by Jody Barhanovich

Rialto Capital Management, a Miami-based real estate investment and asset management company, has raised more than $1.39 billion for Rialto Real Estate Fund III, exceeded its $1.3 billion equity fundraising target, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

The fund’s objective is to invest primarily in real estate debt and properties using an opportunistic strategy. Rialto is expected to invest the capital raised on behalf of the debt fund into mortgages as well as CMBS B-pieces. 

The fund received a $50 million commitment from the $62 billion State of Michigan Retirement Systems in March 2016.

Rialto announced a first closing for the fund in November 2015, raising $510 mi

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