ICG-Longbow raises £928m at fund close

ICG-Longbow has closed its fifth partnership capital fund with £928m of capital.  The fund, UK Real Estate Debt Investments V SCSP, is backed by new and repeat institutional investors from the UK, Europe, Asia and the Middle East.  It focuses primarily on investing in self-originated whole loans secured against UK commercial property. Additionally, it can invest in mezzanine debt, preferred equity and development loans. The fund has committed £455m to date in 10 transactions, with loan sizes from £20m-100m. As at 30 September 2019, ICG-Longbow has over £3.7bn of assets under management across its four strategies of senior debt, partnership capital, residential development finance and sale and leaseback.  Martin Wheeler, co-head of ICG-Longbow, said: “The success of this fundraise demonstrates that investors remain confident in the long-term prospects for UK commercial real estate, our defensive strategy and investment track record, despite the challenging economic environment and Brexit uncertainty.”  To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette