– Cheyne Capital has closed CRECH IX – Capital Solutions, its ninth real estate lending vintage, raising £3bn ($4bn) across the commingled fund and adjacent vehicles.
– The strategy launched in 2024 with seed capital from a Middle Eastern sovereign wealth fund and is already mature, with 73 underlying loans, including 16 realised investments.
– The portfolio is predominantly made up of senior loans against core, core-plus, value-add and development assets.
– Investments span the UK, Spain, France, Italy, Portugal, Ireland, Sweden and Belgium.
– Sector exposure includes hotels, offices, student accommodation, residential and mixed-use real estate.
– More than 50% of investor capital has already been called and deployed.
– Ravi Stickney, Managing Partner and CIO of Real Estate at Cheyne Capital, said demand for scalable and reliable European real estate financing has intensified amid a persistent supply/demand imbalance and reduced capital provision.
– Stuart Fiertz, Co-Founder and President of Cheyne Capital, said the close allows Cheyne to maintain its focus on larger transactions with less lender competition, while partnering with established borrowers providing significant equity alongside the loans.
