AllianceBernstein closes fourth commercial real estate debt fund

AllianceBernstein (AB), a global investment and research management firm, has completed the final closing of its U.S. Commercial Real Estate Debt Fund IV (CRED IV).

The fund secured $1.3 billion of commitments from global institutional investors, representing the continued expansion of AB's U.S. commercial real estate debt platform, which has raised $10.5 billion of total assets from investors worldwide since its 2013 inception.

According to AB, the debt platform has cumulatively secured more than $4.5 billion of new capital commitments since December 2020.

“Attracting over $4.5 billion of new capital commitments for our U.S. CRED platform is reflective of the successful deployment and management of our portfolio over the past decade, including navigating the COVID-19 pandemic,” said Peter Gordon, CIO of AB's U.S. Commercial Real Estate Debt. “The expansion in the cost and tenor of capital — combined with having access to both levered and unlevered strat