London-based fund manager, Signal Capital Partners, has closed its debut fund on €725 million with a focus on credit and real estate special situations.
The manager was formed in May 2015 by chief investment officer Elad Shraga, the former head of Deutsche Bank’s structured finance business, together with colleagues from the German bank including Amit Jain (head of credit investments) and Gad Caspy (head of real estate investments).
The team now numbers 15 altogether, including 11 investment professionals.
The fund has already deployed more than €450 million in 15 investments since September 2015, targeting transactions worth between €25 million and €75 million across Europe.
The capital was raised from institutional investors including endowments, foundations, pension funds, insurance companies and large family offices across Europe, North America, the Middle East and Asia.
Signal’s strategy involves investing in complex, private bilateral situations and highly illiquid public market instruments. It also targets commercial real estate investments including private lending, acquisition of debt portfolios and special situations equity.
“In a challenging environment for investment returns across the globe, we have focused our efforts on a distinctive opportunity set which we believe offers compelling risk-adjusted returns,” said Elad Shraga in a statement.
The firm could not be immediately reached for further comment.