C-III raises $523m for Recovery Fund II

Texas-based C-III Capital Partners has raised $523.1 million for C-III Recovery Fund II according to a filing with the SEC.

The opportunistic fund, which will make both debt and equity investments in the United States, launched in April 2013 with a $550 million fundraising goal. It has already exceeded by a wide margin the haul of its predecessor, which had a $310 million final close in May 2012.

C-III Asset Management, a subsidiary of C-III Capital Partners, is a loan servicer (primary and special) of commercial real estate loans. C-III Asset Management is the named special servicer for more than $116 billion and the primary servicer for approximately $16 billion of commercial real estate loans.