Fundraising - APRIL 10, 2014

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Walton Street launches first debt fund, receives TMRS commitment

by Andrea Waitrovich

Walton Street Capital is marketing its first real estate debt vehicle, Walton Street Real Estate Debt Fund, and the Texas Municipal Retirement System approved a $100 million investment in the fund during its March meeting.

Walton Street did not release an official fund launch announcement. However, according to documents from TMRS, the fund aims to raise $500 million by second quarter 2015. A first closing is expected to be held during second quarter 2014.

The fund’s investment objective is to achieve risk-adjusted returns in debt investments that exceed those generally achievable through traditional core real estate debt investment vehicles. Real estate debt investments will include whole loans, mortgage participations and mezzanine loans secured by real estate and other real estate–related assets in the United States.

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