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Alternative Assets  + Private Debt  | 
Heitman Secures $806M for Third Real Estate Debt Fund 

Heitman Secures $806M for Third Real Estate Debt Fund 

Heitman closed its third real estate debt fund, Heitman Real Estate Debt Partners III (HDP III), raising $806 million – exceeding its initial target by more than $200 million. 

HDP III’s strategy aims for returns between core-plus and value-add equity programs, leveraging capital market dislocations. The fund attracted both returning and new investors, including the Alaska Retirement Management Board ($75 million) and the State of Wisconsin Investment Board ($100 million). 

“As demand for flexible and reliable financing solutions grows, we believe the real estate debt market is well-positioned with attractive opportunities,” said Jon Lindell, EVP and portfolio manager for HDP III. 

Recent activity in the real estate debt sector includes Pretium’s launch of its first homebuilder finance fund with $550 million in equity commitments and Canyon Partners’ closing of Canyon US Real Estate Debt Fund III at $1.2 billion. 

Chicago-based Heitman manages $48 billion in total assets globally, with $5.5 billion allocated to its debt platform. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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