ACORE Capital closes second opportunistic credit fund at $1.1bn

ACORE Capital has closed its second opportunistic real estate credit fund at $1.1bn (£820m), topping its original $1bn fundraising goal. The US commercial real estate investment manager said ACORE Opportunistic Credit II (AOC II) attracted commitments from institutional investors and closed at more than four times the size of its predecessor fund. The vehicle has already committed $400m across 14 investments. ACORE launched its opportunistic credit strategy in 2020, targeting higher-yield opportunities in commercial real estate. The firm pointed to market dislocation and discounted valuations as openings for credit investors to finance business plans while taking more senior positions in capital structures. Founded in 2015, ACORE has committed $1.34bn to opportunistic credit investments.