AllianceBernstein surpasses $1b target for debt fund
AllianceBernstein has held a final close for its second commercial real estate debt fund, AllianceBernstein Commercial Real Estate Debt II, with total commitments of $1.55 billion, surpassing its $1 billion target.
“We think the risk-adjusted returns in transitional U.S. commercial real estate debt, particularly when accessed through an unleveraged model, are very attractive, and the continued strong demand from clients across the globe is a testament to the success of our team, the differentiation of our strategy and our rigorous underwriting approach”" said Roger Cozzi, CIO of commercial real estate debt with AllianceBernstein, in a statement.
AllianceBernstein Commercial Real Estate Debt II received commitments from a diverse range of global insurers, pension funds and foundations. The fund closed with more than double the $750 million in equity commitments raised by its predecessor fund, AB Commercial Real Estate Debt Series I-B. In connec