Mezzanine Fund Reaches $425M

NEW YORK CITY-Capital Trust Inc. announced the final closing of CT Mezzanine Partners III Inc. with $425 million of committed equity capital. This is the third in a series of private equity funds co-sponsored with affiliates of Citigroup Alternative Investments LLC and managed by Capital Trust and it will make mezzanine investments in commercial real estate.

Fund III had its first closing in June and to date has closed on $109.5 million in investments, according to Capital Trust CEO John R. Klopp. He adds CT hopes to deploy the capital over the next two years and move on with plans for a Fund IV.

“The closing of Fund III extends our leadership position in the real estate mezzanine sector and continues the growth of CT’s investment management business,” Klopp says.