Goldman Sachs has closed its second real estate credit fund with over $4bn (€2.87bn) to invest in senior and mezzanine debt.
Broad Street Real Estate Credit Partners II (RECP II) has been backed by institutional and private investors from Europe, Asia and the Americas.
RECP II will originate loans for real estate acquisitions, refinancings and recapitalisations in Europe and the US.
Peter Weidman, managing director for RECP II, said $500m has so far been invested since the fund’s first close.
Goldman said RECP II will look to generate risk-adjusted returns through a diversified pool of investments in both senior and mezzanine loans, collateralised by high quality real estate assets.
The bank’s Merchant Banking Division will manage the fund, which will invest in all major asset classes.
RECP II is the second real estate credit fund. Goldman’s first fund invested over $3.5bn in high quality loans.