Omni Partners has raised $60m (€53m) for its third UK commercial and residential real estate debt fund.
The London-based investment manager said a pension fund backed the Secured Lending Fund III vehicle, with an initial $60m raised for the third fund.
It is looking to raise $400m for the fund, which will have a second close in July.
Elissa Kluever, managing director of credit and lending funds, said: “The launch of the third vintage of Omni Secured Lending marks an important milestone, with the first direct allocation by a pension fund to the strategy.”
The third vehicle follows the raising of $240m for its Secured Lending Fund II fund last month.
Omni said it would focus on short-term debt opportunities in the UK commercial and residential real estate market and estimated the UK short-term lending market was worth around £3.5bn annually.
Loans are no more than 24 months, with loan-to-value capped at 75%.
The company’s first vehicle, launched in early 2014, funded 92 loans.
Amicus Finance, founded in 2009 and acquired by Omni in late 2013, serves as the fund’s origination platform.
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