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Investcorp, the asset management firm specialising in alternative investments, announced the launch of the 'Investcorp Real Estate Credit Fund, L.P.' a $1 billion credit investment vehicle that has been formed to acquire whole loans, mezzanine loans, and commercial mortgage-backed securities collateralised by well-performing commercial and residential real estate assets throughout the US.
A sovereign wealth fund from the Gulf region has committed $850 million to the vehicle, and Investcorp, in keeping with its commitment to invest alongside its clients, has committed a further $150 million. Investcorp and its partners will evaluate opportunities to leverage their total equity investment to create some $2-3 billion of total investment capital.
Mazin Al Khatib, managing director at Investcorp, and regional head for the UAE and Saudi Arabia, said: "We are pleased to announce this investment vehicle. We believe this endorses Investcorp's standing as a trusted, respected partner for value-oriented real estate investments in the US.
"It also demonstrates our ability to create customised investment products for sophisticated, world-class investors and especially sovereign wealth funds.
"We believe that there are opportunities for strong returns in the US real estate lending markets. We are well-positioned to draw upon our extensive relationships within the lending community to seize on opportunities to grow our debt business."
