Basis Investment Group closes oversubscribed first commingled fund

Basis Investment Group has held the final closing of its first commingled, closed-end fund, BIG Real Estate Fund I, with $410 million of capital commitments.

The fund is a successor vehicle to seven prior joint ventures and separate accounts launched by Basis in the past 10 years. With the closing of the fund, Basis has up to an additional $800 million of capital (inclusive of leverage) to deploy.

“Basis invests across the capital stack in middle markets throughout the country, focusing on what we call ‘dequity’,”said Tammy Jones, CEO of Basis Investment Group. “We target opportunities that we have underwritten to provide equity-like returns for our investors as well as the downside protections of debt.”

Basis launched BIG Real Estate Fund I in November 2017 to capitalize on bridge and mezzanine debt, preferred equity, structured equity, and B-piece investments in the U.S. middle markets, which are backed by income-producing, commercial real estate