fundraising

Capital providers and their managers are seeking fresh pockets of value as fundraising in the sector dips.

The Chicago-based manager’s latest real estate debt fund carries the same strategy as its predecessor, but the lower return targets are a function of the late cycle, sister title PERE has learned from a source.

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.

The New Mexico sovereign wealth fund has invested $242m in the Los Angeles-based manager’s vehicles since 2014.

The US offers stable loan underwriting standards and an opportunity for debt funds to take back market share from banks, which have lent more in recent quarters.

Investment opportunities for real estate debt in the US appear to remain strong.

The firm has received a commitment from the Texas Municipal Retirement System.

The Dallas-based firm is raising its latest fund in a series that focuses on private equity control investments, corporate and consumer debt, real estate and real estate debt.

Colony NorthStar has collected a total of $1.3 billion for its fourth real estate debt fund, Colony Distressed Credit & Special Situations Fund IV, Real Estate Capital's sister title PERE has learned.