Oaktree raises $1.1bn

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Oaktree Capital Management has raised $1.1 billion for its Oaktree Real Estate Debt Fund II, per a SEC filing. The Los Angeles-headquartered firm began fundraising in 2016 with an undisclosed target.

Its previous fund raised $1.1 billion in 2015.

Investors that committed to Oaktree Real Estate Debt Fund II include the Teachers' Retirement System of the State of Illinois.

The fund will target subordinated/mezzanine debt opportunities in a diverse number of sectors in North America and Europe.