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Laxman Pai, Opalesque Asia: US commercial real estate debt manager ACORE Capital has hauled in about $1.4bn for the final close of its latest commercial debt fund.
ACORE Credit Partners II (ACP II) is the largest private real estate debt fund to close in 2024 and blew past its $1 billion target said a press media from the commercial real estate lender.
ACP II is the latest and largest in ACORE's flagship series of commercial real estate credit funds focused on originating and managing transitional debt investments in the United States, it added.
According to the release, ACP II received capital commitments from a diverse group of global institutional investors including U.S. pension plans, sovereign wealth funds, endowments and foundations, insurance companies, and family offices, reflecting the strong global demand for ACORE's real estate credit strategy.
"We sincerely appreciate the strong support we received from some of the world's largest domestic and foreign institutions, many of whom have previously invested with us," said Warren de Haan, CEO of ACORE. "We believe the success of this fundraise - especially in a very difficult capital raising environment - is a testament to our track record, relationships, and the incredible opportunity we see to deploy capital into transitional real estate over the next few years."
Michael Romo, Senior Managing Director and Head of Global Capital Raising and Investor Relations at ACORE, stated, "ACORE was establish...................... To view our full article Click here
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