Jun
21

Fortress Caps Credit RE Fund at $1B

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Fortress Investment Group, based at 1345 6th Ave., has completed the capital raise for its latest opportunistic credit real estate fund.

NEW YORK CITY—Fortress Investment Group said Thursday afternoon it had completed the capital raise for its latest opportunistic credit real estate fund. Capped at $1 billion, Fortress Real Estate Opportunities Fund II is about 63% larger than its predecessor, which closed at $625 million in September 2011.

The new fund has been on the market since 2014. It will target opportunistic investments in distressed and undervalued commercial real estate assets, primarily in the US and Europe.

Approximately 50% of FROF II’s commitments come from public and corporate pensions, endowments and foundations. Pension & Investments reported that the San Francisco City & County Employees’ Retirement System was among those investors, with a commitment of up to $75 million…

Fortress Caps Credit RE Fund at $1B

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