PCCP fund holds final close
PCCP has held a final closing of its latest debt fund. PCCP Credit VI had a final close of approximately $910 million on Aug. 28, according to a spokesperson for the fund.
The debt fund launched in October 2013 and was seeking to raise $750 million. The fund, which has already started investing, will focus on originating bridge loans for office, industrial, retail and multifamily properties in the top 25 U.S. markets.
The fund received investments from more than 20 institutional investors, including $200 million from the California State Teachers’ Retirement System in 2014. PCCP also co-invested in the fund.