Key Takeaways
- • Cheyne Capital Management has raised around £3 billion ($4 billion; €3.5 billion) for the ninth vintage of its European real estate lending strategy, CRECH IX, according to PERE.
- • The final close is described as Europe's largest commingled real estate debt fund of 2026 so far.
- • The fund is investing in projects including the redevelopment of 75 London Wall, per publisher coverage.
- • Cheyne is a global alternative asset manager focused on corporate credit, real estate debt, strategic value credit and equity alternatives.
Summary
Cheyne Capital Management has raised around £3 billion ($4 billion; €3.5 billion) across the ninth vintage of its European real estate debt strategy, according to PERE. The capital raised, which is structured through the CRECH IX fund, includes what PERE describes as Europe's largest commingled real estate debt fund of 2026 so far. Other trade coverage reports the same £3 billion figure and describes the vehicle as the firm's ninth European real estate lending fund.
The fund's lending activity spans multiple European markets. Publisher coverage lists Spain, France, Italy, Portugal, Ireland, Sweden and Belgium among target jurisdictions. Coverage also cites the fund's investment in the redevelopment of 75 London Wall, a major City of London office project.
Cheyne Capital is a global alternative asset manager specialising in corporate credit, real estate debt, strategic value credit and equity alternatives. The vintage's close follows an earlier reported plan by the firm to raise £7.5 billion (€8.6 billion) across two European real estate debt funds, a target that publisher coverage linked to the current interest rate environment. Legal advisory coverage also references Weil acting for Cheyne on the £3 billion Cheyne Real Estate Credit Holdings fundraise.
The PERE article is partially paywalled, so further detail on the investor base and fund terms was not available in the source material.
The fund's lending activity spans multiple European markets. Publisher coverage lists Spain, France, Italy, Portugal, Ireland, Sweden and Belgium among target jurisdictions. Coverage also cites the fund's investment in the redevelopment of 75 London Wall, a major City of London office project.
Cheyne Capital is a global alternative asset manager specialising in corporate credit, real estate debt, strategic value credit and equity alternatives. The vintage's close follows an earlier reported plan by the firm to raise £7.5 billion (€8.6 billion) across two European real estate debt funds, a target that publisher coverage linked to the current interest rate environment. Legal advisory coverage also references Weil acting for Cheyne on the £3 billion Cheyne Real Estate Credit Holdings fundraise.
The PERE article is partially paywalled, so further detail on the investor base and fund terms was not available in the source material.
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