Aegon Asset Management closes affordable housing debt fund

Aegon Asset Management has closed a $100 million affordable housing debt fund. This is the first fund of its kind in the marketplace, and was sponsored by Aegon USA Realty Advisors (AURA), a member company of Aegon Asset Management, the global group of asset managers affiliated with Netherlands-based Aegon N.V.

In addition to sponsoring the fund, AURA will also provide ongoing fund oversight, loan servicing and asset management services for the life of the fund.

AURA manages more than $3.9 billion of tax credit equity investments and more than $11 billion of commercial mortgage loans for its affiliate and non-affiliate clients as of Sept. 30, 2017.

The debt fund is expected to be comprised of investments in 32 loans located in 13 states across the country. The fund is closed to new investors.

A total of six investors took part in the closing, including an affiliate of the fund sponsor. AURA has closed affordable housing–related funds with 38 institutio