The Newport Beach,
California-based investment manager is targeting $3bn-$4bn for its latest real
M&G has provided a £70m financing package to a real estate development previously completed by Rocket Investment and leased by Premier Inn.
View the latest capital raises
The firm’s fourth direct lending offering has so far collected €400m, having launched last year.
The Philadelphia-based firm already manages $5bn of energy-related assets.
A survey of the region’s mid-market shows the debt market buoyant overall, but greater caution is driving borrowers into the arms of the banks.
This marks the firm’s 11th such vehicle since the global financial crisis.
Investors are hoping for a big year of loans sales by the banks. They may be disappointed.
The sixth fund is the latest form a firm that began investing in
mezzanine debt in the early 1990s.
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