Fundraising - JANUARY 24, 2017

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Cerberus Capital fund holds $1.8b find close

by Andrea Waitrovich

Cerberus Capital Management has announced its $1.8 billion final close for its fourth global opportunistic real estate fund, Cerberus Institutional Real Estate Partners IV.

As with previous funds, CIREP IV will pursue an investment strategy focused on distressed or otherwise undervalued real estate transactions globally, with a focus on the United States and Western Europe.

The fund received commitments from more than 60 investors, including sovereign wealth funds, public pension plans, corporate pension plans, insurance companies, endowments, foundations and high-net-worth individuals.

According to Evercore’s recent “European Distressed Real Estate Market” report, Cerberus was the most active buyer of commercial and residential mortgages, nonperforming loan portfolios and distressed real estate in Europe in 2016, an investor league table milestone that it also achieved in 2014 and 2015. Cerberus accounted for 19 percent of European

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