Slate Asset Management has elevated C$572 million for Slate Canadian Authentic Estate Opportunity Fund II (SCREO II).
The fund targets opportunistic serious estate investments throughout North America.
The last near exceeded the fund’s original target of $450 million and is approximately twice the sizing of its predecessor automobile, Slate Canadian True Estate Option Fund I (SCREO I).
Slate said the fund is backed by a effectively-diversified, world-wide investor base consisting of equivalent element current SCREO I investors and investors that are new to the Slate platform, which includes endowments, household workplaces, North American pension funds, a huge and trustworthy German public pension fund, and clients of Townsend.
SCREO II supplies traders with exposure to opportunistic investments across the North American serious estate sector with a concentrate on cyclical expenditure possibilities, portfolio acquisitions and asset repositioning and redevelopment.
The fund has accomplished five investments to day, including participation in the acquisition of a portfolio of performing authentic estate financial loans, debt securities and real estate fairness positions from Annaly Capital Administration for US$2.33 billion in 2021.
“The world response to the Covid-19 pandemic has accelerated the important disparity concerning price tag and worth in the authentic estate sector, generating contemporary prospects for Slate to receive assets and portfolios at an interesting expense basis,” reported Blair Welch, Founding Associate at Slate. “Our concentration on essential worth has enabled us to capitalize on these prospects and supply returns that historically have outperformed benchmarks. We search ahead to putting this fresh new money to get the job done and leveraging our deep knowledge to determine powerful expenditure possibilities that will produce worth for our traders.”
Jerry Cain, Taking care of Director on Slate’s Funds Raising team, added: “We are grateful for the have confidence in and assist of all the investors in this Fund and these who have dependable us by way of co-financial commitment partnerships as very well. Our ability as a firm to obtain these types of a profitable funds raise is a testament to the self-assurance investors have in Slate. We figure out how essential these interactions are to our organization and appear forward to deepening these partnerships as our business enterprise continues to expand.”