Fundraising - SEPTEMBER 5, 2013

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Torchlight raises $420 million for fourth debt fund

by Andrea Waitrovich

Torchlight Investors, formerly ING Clarion Capital, has raised $420 million for its Torchlight Debt Opportunity Fund IV. The debt fund launched in March 2012 with a $1 billion fundraising goal. The firm held an initial first close in September 2012 with $300 million in equity commitments.

The opportunistic fund will pursue the same investment strategy utilized in predecessor funds and will invest in commercial real estate interests using a broad array of debt instruments. These instruments include, but are not limited to, CMBS, distressed first-lien mortgages, mezzanine loans, preferred equity and CDOs secured by commercial real estate.

Recent investors include the Nebraska Investment Council, which approved a $20 million commitment to the vehicle at its Aug. 27 meeting. This is a first-time investment for the pension fund. And in May 2013, the City of Los Angeles Department of Water and Power co

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