Omni Partners has achieved a $60m (£41.7m) first close of its third secured lending fund.
The London-based alternative lender received the backing from a variety of investors for its Omni Secured Lending Fund II vehicle.
Omni is looking to target a $400m final close for the fund.
All the loans from the fund will be asset backed and will have durations of no more than 24 months at a maximum of 75% loan-to-value.
Loans are targeted at professional property investors normally for the purchase of buy-to-let properties or for refurbishment projects.
The previous fund, OSL II, delivered a net return of 11.5%.
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