Canyon Partners Real Estate has raised approximately $570m (β¬494m) for its US opportunistic strategy, surpassing its $500m target.
The Canyon US Real Estate Opportunity Fund (CREOF) and associated accounts secured global capital, including new and returning investors.
CREOF targets opportunistic real estate equity investments in commercial and residential assets across the US.
The strategy includes property acquisitions, recapitalisations, stressed and distressed situations, value-add repositioning, non-performing loans and development or mid-construction financing, the manager said.
Robin Potts, CIO at Canyon Partners Real Estate, said: βWe see compelling opportunities to invest in high-quality real estate as the evolution of the real estate cycle continues to create attractive entry points in todayβs market.
βWe believe that Canyonβs ability to invest across complex capital structures and market volatility has been a significant draw for our investment partners.β
Matt Brody, head of real estate capital formation at Canyon Partners Real Estate, said: βWe are grateful for the strong support from our investors, reflecting continued confidence in our experience and investment approach.β
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