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Fundraising - MARCH 31, 2020

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Locust Point closes in on target for new senior housing debt fund

by Kali Persall

Locust Point Capital is marketing a new senior housing debt fund, a Form D filed with the SEC on March 25 has revealed. The name of the new fund is the Locust Point Seniors Housing Debt Fund II.

The fund has set an equity fundraising target of $425 million, and has so far collected $232.3 million toward that.

The fund’s launch comes two years after Locust Point closed its debut fund, Locust Point Private Credit Fund. According to Locust Point, the fund was oversubscribed to its target of $250 million, after collecting $312 million from a mix of U.S. and European investors. The investor base for that fund included pension funds, endowments, foundations, insurance companies and wealth advisors.

The previous fund provides subordinate debt, preferred equity and opportunistic senior mortgage loans to owner-operators in the senior housing and care sector.

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