Private real estate credit manager S3 Capital has raised a total of $730m (£548m) in commitments, including $450m in equity commitments for its S3 LB Real Estate Credit Fund III.
An additional $280m is in separately managed accounts and co-investments.
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Fund III will remain open to investors through Q1 2026 and is targeting $650m in equity commitments, with a hard cap of $850m.
“We have seen strong interest in Fund III from a diverse range of institutional investors, including US and international endowments, insurance companies and pension funds who recognise the long-term opportunity in multifamily lending,” said Robert Schwartz (pictured), co-founder of S3 Capital.
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“These groups are increasingly drawn to the fundamentals of specialised real estate credit as an asset class and have confidence in our approach to underwrite and service loans in supply-constrained, high-growth markets.”
To date, S3 has called around 15 per cent of total commitments and has closed 13 loans totalling $808m.
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