Venn Partners raises £185m for real estate debt fund

Venn Partners has raised £185 million ($263.8 million) for its European real estate debt fund, according to a statement.

Venn Commercial Real Estate Fund I has received commitments from U.K. and North American pension funds and will target direct lending opportunities throughout the European commercial real estate market. The closed-end fund focuses on value-added loans in the £5 million ($7.1 million) to £50 million ($71.3 million) range.

A final close is expected in the third quarter. Venn Partners says the company has completed £1.2 billion ($1.7 billion) in loans since the start of 2013, including more than £140 million ($199.6 million) of loan investments within the fund.

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