Cheyne Capital Management, a London-based alternative asset manager, has reportedly launched a new debt-focused property fund.
The fund, Cheyne Real Estate Credit Holdings Fund III (also known as CRECH III), seeks to capitalise on the continuing dislocation of the European real estate debt markets, according to portfolio-adviser.com.
The fund will invest primarily in UK and German real estate opportunities across the debt spectrum and via a range of instruments, which include senior loans, mezzanine loans, equity and special situations workouts.
"As European banks continue to retreat from real estate lending due to increasing regulatory pressures, Cheyne is able to step into the void with a viable financing solution for mid-market borrowers, who are increasingly recognising the team’s ability to understand complex real estate financing needs and execute creative solutions in a short timeframe," Stuart Fiertz, co-founder of Cheyne, was quoted as saying by the publication.
Cheyne Capital’s real estate debt team is headed by Ravi Stickney with Graham Emmett as his investment partner, alongside a team of nine other professionals.