The firm, which is led by former executives of Oaktree Capital Management, have reached out to potential investors and have been in talks with them over the past few months, people with knowledge of the fundraise told PeHUB.
Solace will invest between $10m and $75m in companies with a primary focus on the US.
The firm was launched last year by former Oaktree executives Christopher Brothers, Vincent Cebula and Brett Wyard, who now serve as managing partners of Solace.
Oaktree has recently launched its seventh Real Estate Opportunities Fund not long after closing its previous vehicle on $2.7bn.
In July AltAssets reported that Oaktree was looking to raise at least $3bn for the seventh real estate fund, after smashing the $1.5bn target for Oaktree Real Estate Opportunities Fund VI.
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