US real estate manager Bridge Investment Group has raised $2.9bn (€2.75bn) for its latest debt fund.
The NYSE-listed company said the Bridge Debt Strategies Fund IV (BDS IV) fund invests in underserved parts of the debt market where barriers to entry are high, and competition is more limited.
BDS IV is focused on originating first mortgage direct loans, investing in Freddie Mac K-Series B-Pieces, and opportunistically investing in other commercial real estate-backed debt.
James Chung, CIO for the Bridge Debt Strategies funds, said: “We are proud to announce an expanded fundraise for the fourth vintage of the Bridge Debt Strategies private real estate debt offering.
“Our heavy focus on recession-resistant multifamily collateral and floating rate debt positions the Fund well in the current market environment. To date, we have assembled a durable portfolio and have substantial dry powder which will create the opportunity to deliver strong returns to our investors.”
Robert Morse, executive chairman at Bridge Investment Group, said: “BDS IV is one of our numerous investment vehicles focused on the residential rental market in the US, and like our complementary strategies in multifamily, workforce housing and single-family for rent, uses specialised expertise in a targeted investment thesis to create attractive exposure to a high-performing asset class.”
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