Private equity firm Cerberus Capital Management has secured $2.8 billion in commitments for its new opportunistic real estate fund, Cerberus Institutional Real Estate Partners V.
The fund will target investments in direct assets, real estate companies, entities with significant real estate exposure, and real estate-related debt, including non-performing loan portfolios.
“The investment landscape plays to the strengths of our global real estate franchise,” Lee Millstein, President of Cerberus Global Investments and Global Head of Real Estate, said.
“There are market dislocations and macrotrends that are driving compelling opportunities across our broad platform. Our team will continue our disciplined approach to investing opportunistically, establishing innovative partnerships, and applying our operating capabilities and experience to solve complex problems.”
Cerberus has been active in the hotel investment market in recent months. It recently closed a deal with real estate investor Highgate to buy six hospitality portfolios worth $2.8 billion from Colony Capital.