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Torchlight announces final close for Debt Fund VII

The New York-based fund manager has confirmed a final close for its seventh real estate debt fund.

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  • Fund: Torchlight Debt Fund VII
  • Amount raised: $2.04 billion
  • Target size: $1.5 billion
  • Stage of fundraising: Final close
  • Final close: October 2021
  • Time on the road: One year and five months
  • Predecessor fund: Torchlight Debt Fund VI ($1.684 billion)

US asset manager Torchlight Investors has raised $2.04 billion for Torchlight Debt Fund VII, a contact at the firm told PERE. With it, the fund becomes the largest US-focused real estate debt fund to close so far this year. The fund exceeded its $1.5 billion target and surpassed capital raised by its predecessor, Torchlight Debt Fund VI, which closed in February 2019 on $1.684 billion. Like its predecessor, capital raised by the seventh-generation real estate debt fund will be used to lend to real estate throughout North America across diversified sectors.