Clearbell raises £400m for UK opportunity fund
By Bridging Loan Directory -
The fund management group created by Mountgrange said it had completed fundraising for its Clearbell Property Partners II fund.
The fund was oversubscribed, exceeding its original target of £300m by 33%.
The manager has made a £97m co-invest commitment to the fund.
Around 75% of the 40 commitments to the fund came from pension funds.
In May, the Employees Retirement System of Texas allocated $47m to Clearbell.
Manish Chande, senior partner at Clearbell Capital, said the fund had in excess of £1bn of property investment firepower, including co-investment and leverage.
Clearbell said £126m has so far been invested in five transactions.
Investors in the fund included entities from Australia, South Africa, USA, Canada and Europe.