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The Newport Beach-based manager has closed its second property credit fund on $3bn, more than double the size of its predecessor.
The manager expects high interest rates and lower deal volumes to restrict broader CLO market comeback.
The Washington, DC-based firm’s chief executive was optimistic about both fundraising and deal activity in the asset class going forward.
The strategy arrives as the firm sees more industrial, construction and multifamily opportunities.
This is the Washington-based company’s first ever credit-focused investment vehicle.
The Los Angeles-based manager is targeting $3bn for its Real Estate Debt Fund IV.
CEO Mukang Cho says the firm will target structured debt investments in the office sector.
Americas CIO Alfonso Munk says redevelopment and gap financing rank highly alongside equity priorities.
Higher interest rates are making it more difficult for sponsors to exit properties and refinance debt.
The Charlotte-based manager is seeing banks and other traditional lenders hesitate amid volatility, but it is confident in its ability to line up debt.