ACORE Capital has raised $556 million for ACORE Credit IV, the firm’s first discretionary commingled real estate debt fund, against a $1 billion fundraising target.
The firm also closed an additional $2 billion of separate account mandates.
Launched in December 2017, ACORE Credit IV invests on behalf of corporate pension funds, family offices, foundations, insurance companies and public pension funds in North America, Europe, the Middle East and Asia. The fund focuses on originating and managing transitional commercial real estate debt investments in the United States, according to ACORE.
The mandates targeted similar lending opportunities and attracted investors from global insurance companies with a preference for investing in separate accounts, rather than commingled funds.
ACORE Credit IV is 62 percent committed and has made 19 diversified investments, representing $308 million of the fund’s equity capital.
ACORE expects the fund’s invest
