Duet Private Equity has raised £75m of equity in the second close for its mezzanine debt fund – short of its initial target of £100m.
The investments for its European Real Estate Debt Fund came through a £50m listing of Duet Real Estate Finance.
The initial target was to raise £100m through its listing on the London Stock Exchange. A further £25m of equity was invested into the unlisted vehicle.
The second close was mainly subscribed to by institutional investors from across Europe.
Dale Lattanzio, managing director of Duet Private Equity, said: “There are many opportunities to be uncovered in the European commercial real estate debt market. Knowing where to look and executing them is the key.
“A number of investors continue to show interest in the strategy, and we intend to work with these investors with a view to increasing the overall size of the fund”
Evercore Private Funds Group acted as placement agent and adviser for Duet Private Equity Limited.
Oriel Securities acted as sole financial adviser, sponsor and bookrunner for the listing of Duet Real Estate Finance Limited.
