The firm has received a commitment from the Texas Municipal Retirement System.
The Dallas-based firm is raising its latest fund in a series that focuses on private equity control investments, corporate and consumer debt, real estate and real estate debt.
Lending in the US is an attractive proposition for European organisations, but fierce competition is already hitting loan margins.
Colony NorthStar has collected a total of $1.3 billion for its fourth real estate debt fund, Colony Distressed Credit & Special Situations Fund IV, Real Estate Capital's sister title PERE has learned.