Cheyne Capital is planning to raise £7.5 billion (€8.6 billion) for two European real estate debt funds to capitalize on high interest rates and a retreat from bank lenders.
The global alternative investment manager, through its Cheyne Real Estate Credit Holdings (CRECH) program, is seeking to raise £5 billion for its eighth Senior Loan strategy and a £2.5 billion hard cap for its ninth Capital Solutions strategy to target senior lending and recapitalization investments.
The Senior Loan strategy will focus only on making senior loans across core, core-plus, value-add and development assets in the UK and Western Europe. The Capital Solutions strategy, which has so far secured £650 million capital commitments, will also make senior loans and provide comprehensive solutions across the capital stack, including subordinated debt, hybrid credit and commercial mortgage-backed securities.
Source: realassets.ipe.com on the 20th November