Investors - MAY 28, 2014

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TRSL commits $75m to opportunistic debt

by Reg Clodfelter

The Teachers’ Retirement System of Louisiana has committed $75 million to Colony Distressed Credit & Special Situations Fund III, an opportunistic debt fund managed by Colony Capital. This was TRSL’s first commitment to Colony Capital.

“We have a separate private debt strategy which includes distressed debt, and this commitment fits within that strategy,” explains Maurice Coleman, director of private markets with TRSL.

The fund launched in July 2013 with a $1 billion fundraising goal and is expected to close by August 2014. The fund primarily focuses on acquiring commercial real estate loans, such as NPLs and REO assets, from distressed owners in the United States and Europe as well as from government agencies and financial institutions. The fund will originate first mortgages and well-structured mezzanine loans

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