ACORE Capital, one of the leading U.S. commercial real estate debt managers, announced the final closing of ACORE Credit Partners II (ACP II) – oversubscribed with total equity commitments of about $1.4 billion.
ACP II is the latest and largest in ACORE’s flagship series of commercial real estate credit funds focused on originating/managing transitional debt investments in the US. And ACP II received capital commitments from a diverse group of global institutional investors including U.S. pension plans, sovereign wealth funds, endowments and foundations, insurance companies and family offices, reflecting a strong global demand for ACORE’s real estate credit strategy.
Since being founded in May 2015, ACORE has originated about $40 billion in loans. And as of December 31, 2023, ACORE has about $20 billion in assets under management
KEY QUOTES:
“We sincerely appreciate the strong support we received from some of the world’s largest domestic and foreign institutions, many of whom have previously invested with us. We believe the success of this fundraise – especially in a very difficult capital raising environment – is a testament to our track record, relationships and the incredible opportunity we see to deploy capital into transitional real estate over the next few years.”
- Warren de Haan, CEO of ACORE
“ACORE was established to serve as a reliable and trusted alternative to traditional sources of real estate debt. The increased cost and significant reduction in the availability of debt capital from traditional lenders is creating very attractive investment opportunities for ACORE.”
- Michael Romo, Senior Managing Director and Head of Global Capital Raising and Investor Relations at ACORE
