Cheyne Capital has secured a commitment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for the ninth vintage of the Cheyne Real Estate Credit Holdings (CRECH) program, also known as the Capital Solutions strategy. This will be added to earlier investments to bring ADIA’s subsidiary’s total commitment to the Capital Solutions strategy to £650 million (€760 million/$830 million).
The Capital Solutions strategy continues CRECH’s core focus on senior lending against European real estate and, in addition, provides comprehensive solutions across the capital structure, including subordinated debt, hybrid credit and commercial mortgage-backed securities (CMBS). The Capital Solutions strategy is part of the capital raise recently announced by Cheyne, alongside a strategy focusing on senior loans only.
CRECH’s recent deals include the structuring of a £780 million (€912 million/$996 million) loan alongside JP Morgan to Quintain for the
