Key Takeaways
- • ACORE has closed its second opportunistic credit fund, with total commitments of $1.1bn according to the headline.
- • The close is a follow-on to the manager's first opportunistic credit vehicle, indicating continued allocator demand for real estate credit strategies with higher-return, higher-risk profiles.
- • Detailed fund terms, investor base, and target returns were not available in the source material reviewed.
Summary
ACORE has closed its second opportunistic credit fund on $1.1bn, as reported by PEI's private real estate publication under the headline "ACORE closes second opportunistic credit fund on $1.1bn." The close is the second vehicle of this strategy for the manager, which positions the fund to pursue opportunistic real estate lending mandates. Opportunistic credit generally targets higher-yielding, more complex real estate debt and related situations than core lending strategies. Further details on the fund's strategy, investor composition, and return targets were not available in the material reviewed.
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