Angel Oak Capital launches third real estate investment fund in series

Atlanta-based Angel Oak Capital has brought a new fund to market, according to a recent filing with the SEC.

The Angel Oak Real Estate Investment Fund III opened to investors on July 31, and it has since collected $250 million in capital commitments. The fundraising target was not disclosed in the filing; however, the initial fund in the series had a target of $250 million.

Two investors have backed the fund, according to the filing.

Like its predecessors, Angel Oak Real Estate Investment Fund III will invest primarily in nonqualified mortgages, providing investors with access to the growing opportunity in nonbank lending to creditworthy borrowers who have been unable to obtain residential mortgages since the credit crisis.