PCCP raises $267m for debt fund
PCCP has raised $267 million for PCCP Credit VI, a real estate debt fund launched in September 2013. The fund, which is expecting a $750 million final close by year-end 2014, will originate senior, mezzanine and stretch senior loans collateralized by middle-market commercial properties in the top 25 U.S. markets and select secondary markets. Founded in 1998, PCCP has raised, invested and managed approximately $9 billion of institutional capital and currently has approximately $6 billion in assets under management. The firm provides balance-sheet debt and equity to opportunistic middle-market real estate projects throughout the United States.