Starz Real Estate, a pan-European commercial real estate lending platform, has launched a new venture, Starz Orion Capital, a special situations credit fund.
Anchor investor, Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, expects another round of investment to expand the fund's capitalisation by €300 mln.
showing its confidence in the strategy to maximise on varied new opportunities. The fund will make the full spectrum of investments including whole, senior, mezzanine, bridge, rescue financing or preferred equity financing for refurbishment and redevelopment.
It will also support acquisition of distressed debt and non-performing loans; and acquisition of real estate securities comprising REIT’s, CMBS, and other real estate fixed income securities.
This is not the first time Mubadala has backed Starz. In December 2021, it provided anchor capital for Starz Zenith Capital, which originated middle market commercial loans between €15 mln and €100 mln with approximately €500m put to work.
David Arzi is CEO of Starz. He is a former executive MD at Marathon Asset Management where he worked for 20 years until June 2018.
Khadija Benzit is head of Europe real estate investmets for Mubadala having joined in July 2017 from Ares where she was a VP in its private equity real estate division for six years.
Mubadala Investment Company has a $276 bn (€254 bn) portfolio spanning six continents with interests in multiple sectors and asset classes.
