ICG-Longbow, the specialist real estate asset management division of Intermediate Capital Group, has closed its fifth partnership capital fund with £928 million ($1.2 billion) in capital commitments.
The fund, ICG-Longbow UK Real Estate Debt Investments V, focuses on investing in self-originated whole loans secured against commercial property in the United Kingdom. The fund can invest in mezzanine debt, preferred equity and development loans.
The fund was backed by a diverse group of limited partners, including new and repeat institutional investors from the United Kingdom, Europe, Asia and the Middle East, according to ICG-Longbow.
“The success of this fundraise demonstrates that investors remain confident in the long-term prospects for U.K. commercial real estate, our defensive strategy and investment track record, despite the challenging economic environment and Brexit uncertainty,” said Martin Wheeler, co-head of ICG-Longbow in a statement.
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