Cerberus Capital Management has announced that it has raised $1.8 billion for its fourth global opportunistic real estate fund. Cerberus Institutional Real Estate Partners IV will pursue an investment strategy focused on distressed or otherwise undervalued real estate transactions globally, with a focus in the United States and Western Europe. The fund received commitments from more than 60 investors, including sovereign wealth funds, public pension plans, corporate plans, insurance companies, endowments, foundations and high net worth individuals.
According to Evercore’s recent “European Distressed Real Estate Market” report, Cerberus was the most active buyer of commercial and residential mortgage and non-performing loan portfolios and distressed real estate in Europe in 2016. The firm achieved the same feat in 2014 and 2015. Cerberus acquired €9.4bn of secured real estate loans in Europe in 2016. Ronald J. Kravit, Senior Managing Director of Cerberus, said the company’s investment team has been “investing in distressed and opportunistic real estate assets for over 20 years. We look forward to deploying CIREP IV and generating attractive returns to our investors.”
