AllianceBernstein has raised $1.3bn (€1.27bn) for the US Commercial Real Estate Debt (CRED) Fund IV, the manager’s latest US commercial real estate debt fund.
AllianceBernstein said the closing of the fund is the latest milestone in a period of considerable growth for the firm’s US commercial real estate debt platform, which has secured new capital commitments of over $4.5bn in total since December 2020.
Peter Gordon, AllianceBernstein’s US commercial real estate debt CIO, said: “Attracting over $4.5bn of new capital commitments for our US CRED platform is reflective of the successful deployment and management of our portfolio over the past decade, including navigating the COVID-19 pandemic.
“The expansion in the cost and tenor of capital – combined with having access to both levered and unlevered strategies – enables us to deliver broader solutions to our clients and be more innovative and relevant to our borrowers.
“With nearly half of our transactions coming from repeat borrowers, we believe that this will continue to further differentiate the platform in the years to come.”
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