ACORE Capital closes new real estate debt fund after raising $556m

Commercial real estate finance company ACORE Capital has closed its first discretionary co-mingled real estate debt fund, ACORE Credit IV. The firm raised $556 million which it intends to use to originate and manage transitional commercial real estate debt investments across the U.S. The fund’s investors are made up of international institutions from North America, Europe, the Middle East and Asia, including public and private pension plans, insurance companies, investment advisers, and foundations, and family offices. The fund is currently 62 percent committed (net of reserves), having made 19 investments which represent approximately $308 million of fund equity capital. Hodes Weill Securities, LLC, a global real estate advisory firm, acted as the exclusive financial adviser and global placement agent to ACORE.