H/2 Capital raises $505m for debt fund

H/2 Capital Partners has raised $504.7 million for its H/2 Core Real Estate Debt Fund, according to a filing with the SEC.

The debt fund, which launched in January 2012, purchases and originates real estate loans on core-level properties. It will target properties across the United States. Institutional investors in the fund include the Indiana Public Retirement System, which committed $100 million in February 2013, and the Kentucky Retirement Systems, which committed $37 million in May 2013. The investment by KRS was a follow-on investment.

Founded in 2004, H/2 Capital Partners is an alternative investment platform focused in commercial real estate securities. H/2 also operates H/2 Credit Partners, an open-end fu