Stable backs Zenzic’s real estate credit fund with $100m

New York headquartered alternative asset manager Stable Asset Management has made a strategic commitment of $100m (£75m) to the real estate credit opportunities fund operated by European investment firm Zenzic Capital.

Zenzic, which focuses on European real estate credit and asset-backed investments, launched its evergreen credit strategy in October 2025 with the aim of capitalising on market dislocations and structural inefficiencies to create attractive risk-adjusted returns.

The Zenzic Real Estate Credit Opportunities Fund (ZRECO) consists of credit investments such as short-duration high-yield tactical opportunities, medium-term financings supporting asset improvement and bespoke capital solutions across the capital structure. Its initial launch was supported by funds managed by US alternative asset manager GCM Grosvenor.

Zenzic said Stable’s investment reflects growing institutional investor support for the firm’s differentiated approach to European real estate and asset-backed credit.

“We are pleased to welcome Stable’s commitment to ZRECO, which reflects the increasing recognition of the opportunity set within European real estate and asset-backed credit and the strength of our investment platform,” said Nadine Buckland, Zenic’s chief executive and co-founder.

Erik Serrano Berntsen, chief executive of Stable, said that Zenzic’s deep expertise in European real estate and asset-backed credit, combined with their disciplined approach and strong track record, made them a compelling partner.

Founded in 2014, Zenzic specialises in inefficient and underserved segments of the lower middle European real estate and asset-backed credit markets.

Meanwhile, Stable has been active since 2006 and currently manages $5.2bn in assets. Since its inception, Stable has supported the growth of 46 investment firms across private markets and absolute return strategies.