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Contrarian Capital markets third debt fund

by Andrea Waitrovich

Contrarian Capital Management is marketing a third distressed real estate debt fund. It has a $450 million equity fundraising target.

According to a filing with the SEC, the debt fund has raised $92.1 million in equity commitments. It invests in U.S. distressed mortgages, debt and properties. 

Its predecessor, Contrarian Distressed Real Estate Debt Fund II, closed in late 2011 with $450 million in investment capital.

Distressed real estate investing has been a key focus for Contrarian since the inception of the firm.  The firm’s real estate strategy targets distressed debt investments collateralized by real estate. It focuses on opportunities in the $5 million and $50 million range.

According to IREI’s FundTracker database

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