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Walton Street Closes $654M Debt Fund

Walton Street Closes $654M Debt Fund

Chicago-based PERE firm Walton Street Capital (managing principal Jay Weaver, pictured) closed its first real estate debt fund, Walton Street Real Estate Debt, at $654M, beating its original $500M target.

Texas Municipal Retirement System was one of the early investors in the fund, committing $100M in March—other limited partners were government pension funds, insurance companies, asset managers, banks, family offices and high-net-worth investors from around the world.

To date, Walton Street has committed over $220M of the fund to investments in office, retail and hotel assets in core markets, Private Equity Real Estate News reports.

Equity commitments from the fund will range from $10M to $50M, averaging $10M to $20M for each loan, with targeted loan sizes ranging from $50M to $100M. [PERE]