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Torchlight debt fund holds second close

by Zoë Wolff

Torchlight Investors has held a second close of $445 million for Torchlight Debt Opportunity Fund V, according to a statement.

The fund has raised $810 million in commitments so far, with a target size of $1 billion in equity. Targeting net returns of 13 percent to 15 percent, the fund focuses on opportunistic commercial real estate assets in noncore markets across the United States.

Torchlight Debt Opportunity Fund V has received commitments from investors such as the San Diego City Employees’ Retirement System, the Nebraska Investment Council, the Illinois Munici

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