Daniel Cunningham is the editor of Real Estate Capital, contributing to and coordinating coverage of European real estate finance markets for the title's print and digital channels. Before joining PEI Media in 2015, he reported on commercial property for Debtwire and Estates Gazette.
The firms are aiming to complete a first close next month and obtain 10 percent net returns over a six-year period. The fund will invest in both performing and non-performing loans secured on commercial and residential real estate.
Under the new strategy, the firm is aiming to complete LTVs up to 85% as it modifies its SSUP strategy which has seen lower returns in the UK senior property debt market. The firm is also planning to issue 40m new shares over the next 12 months.