Orion Capital launches European debt fund
Orion Capital Managers has launched its fifth European real estate debt fund, Orion European Real Estate V, according to a filing with the SEC.
Orion European Real Estate V is an opportunistic, closed-end real estate fund that will invest in debt secured by European properties. Orion Capital has currently raised $354.92 million for the fund.
The fund’s predecessor, Orion European Real Estate Fund IV, held a €1.3 billion ($1.39 billion) final close in November 2013. The fund primarily focuses on the United Kingdom, Paris, Madrid, Barcelona and Milan.The fund received commitments from the $26 billion Employees Retirement System of Texas, the $10 billion Regents of the University of Michigan and the $2.3 billion Houston Municipal Employees Pension System.
Orion European Real Estate Fund III held a €1.28 billion