Fundraising - AUGUST 8, 2017

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Tunstall holds €55m first close for new DPO debt fund

by Jody Barhanovich

Tunstall Real Estate Asset Management, a newly formed pan-European alternative investment management firm, has made its first investment for a new Dutch-focused discounted pay-off debt fund, DPO Fund 1, having received €55 million ($64.7 million) of initial commitments from a number of international investors at its first closing.

The fund is Tunstall’s first credit investment fund and this transaction, which follows the group’s recent acquisition of London housing-led regeneration specialist Pinnacle, further underlines Tunstall’s intention to develop a pan-European real estate platform investing, via equity and debt, into corporate, direct and indirect opportunities.

DPO Fund 1 has been established to facilitate the restructuring of NPLs, held against otherwise performing assets, by a mechanism of acquiring loans (from as small as €2 million ($2.3 million) and simultaneously restructuring them, by mutual consent, alongside the original borrower.


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