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Founded in 2014, Zenzic is a highly specialized manager targeting inefficient and underserved segments of the lower middle market European real estate credit market - supporting sponsors and real estate groups via financings across a range of sectors including residential, industrial and logistics and student accommodation.

The Fund, domiciled in Jersey, will target investments comprising a mix of short-duration high yield tactical credits, medium-term positions that finance value creation, and select special situation opportunities.

The Firm has carved out a clear competitive advantage over recent years by focusing on a part of the lending market that has been starved of much-needed capital, as traditional bank lenders have retrenched from the sector.

GCM Grosvenor anchored Zenzic's Fund with capital it manages on behalf of, among other clients, large U.S. pension plans' emerging manager programs.

Nadine Buckland, CEO of Zenzic Capital and Managing Partner, ZCAP LLP, commented: "Institutional investors are increasingly exploring differentiated segments of European real estate credit, particularly those that remain materially discounted and show limited correlation with the U.S. market. With the launch of this new Fund, we're well-positioned to pursue the breadth of opportunities emerging across the market. Our focus on underserved segments of the low- to mid-size European real estate credit market, combined with our agility as an emerging manager and experience in executing transactions across these geographies, positions us to support institutions seeking diversification and resilience in their portfolios."

Bryce Robertson, Executive Director, Real Estate Investments at GCM Grosvenor, added: "We are proud to support Zenzic as we recognize the scalable opportunity in the relatively nascent European real estate credit landscape. We believe Zenzic has a differentiated capability to serve borrowers across unaddressed segments of the market, providing meaningful access and diversification for our clients. Zenzic's values-driven partnership, deep sector knowledge and longstanding relationships with borrowers and local stakeholders position them well to capitalize on the substantial opportunity set ahead of us."