Fundraising - APRIL 16, 2018

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Octopus hits £230m hard cap for institutional real estate debt fund

by Andrea Zander

Octopus Property, the specialist U.K. property lender and part of Octopus Group, has reached a final close of £230 million ($330 million) for its Commercial Real Estate Debt Fund II (CREDF II).

The fund’s strategy focuses on originating short-term loans secured by first charge against U.K. commercial property. The fund was launched in September 2017, targeting a £200 million ($287 million) final close with a hard cap of £230 million.

CREDF II has accepted investor commitments from United Kingdom, European and Canadian pension funds and funds of funds.

CREDF II builds on the success of Octopus’ previous funds: Commercial Real Estate Debt Fund (CREDF I), a £130 million ($186 million) fund closed in 2014; and CREDF Syndication, a £140 million ($200 million) sidecar fund raised from existing investors in 2016.

“We have seen significant demand from investors for this strategy, including existing investors looking to increase their exposure to real e

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