Torchlight debt fund raises $367m

Torchlight Investors, formerly known as ING Clarion Capital, has raised $367.67 million for its fifth fund, according to an SEC filing. The opportunistic fund launched in 2014 with a $1 billion equity fundraising target.

Torchlight’s Debt Opportunity Fund V will invest in loans against properties in select secondary markets. DOF V’s investment objective is to achieve capital appreciation and current income by investment in diversified portfolio of commercial real estate–related investments.

DOF V will invest in commercial real estate debt, including commercial real estate loans, CMBS, CMBS interest-only strips and CDOs. It may use leverage not to exceed 30 percent of total assets of th