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Erik Savi’s exit is accelerating the combination of infrastructure and real estate debt into a single platform, a plan that was already in the works.
The firm’s latest credit vehicle has already significantly outpaced its predecessor fund, which closed on $695m.
The fund will deploy capital in Europe and North America.
Through its purchase of a debt business from Quadrant, the French giant has gained access to a greater set of lending opportunities, and the ability to be more selective.
The Chicago-based investment firm has had an active European real estate debt business since 2010.
The French firm has acquired a real estate debt portfolio in the country and a 24-member investment team as it expands its global strategy to deploy capital.
The Los Angeles, California-based firm is now preparing to launch its Oaktree Real Estate Opportunity Fund VIII in 2019.
The fund’s commercial focus differs from its predecessors, which targeted an array of assets.
The firm has received a commitment from the Texas Municipal Retirement System.
Lending in the US is an attractive proposition for European organisations, but fierce competition is already hitting loan margins.