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.