Asset manager GCM Grosvenor has anchored a new European opportunistic real estate credit fund created by Zenzic Capital.
GCM Grosvenor has provided an undisclosed sum, on behalf of clients including major US pension plans’ emerging manager programmes, to the evergreen Zenzic Real Estate Credit Opportunities Fund.
Zenzic said the ‘evergreen’ fund will target investments comprising a “mix of short-duration high-yield tactical credits, medium-term positions that finance value creation, and select special situation opportunities”.
Bryce Robertson, executive director, real estate investments at GCM Grosvenor, said: “We are proud to support Zenzic as we recognise the scalable opportunity in the relatively nascent European real estate credit landscape.
“We believe Zenzic has a differentiated capability to serve borrowers across unaddressed segments of the market, providing meaningful access and diversification for our clients.”
Nadine Buckland, CEO of Zenzic Capital and managing partner at the investment adviser ZCAP, said: “Institutional investors are increasingly exploring differentiated segments of European real estate credit, particularly those that remain materially discounted and show limited correlation with the US market. With the launch of this new fund, we’re well positioned to pursue the breadth of opportunities emerging across the market.
“Our focus on underserved segments of the low-to-mid-size European real estate credit market, combined with our agility as an emerging manager and experience in executing transactions across these geographies, positions us to support institutions seeking diversification and resilience in their portfolios.”
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