LONDON—FIRSTavenue, a leading global private placement agent and advisory firm, has completed the final closing of M&G Real Estate Debt Funds II and III, which were raised simultaneously.
The funds closed at a combined $2.23 billion (£1.35B), exceeding the firm's $1.65 billion (£1.0B) target. Fund II, which focuses on European mezzanine real estate debt, closed at $1 billion (£605M) and Fund III, which focuses on European stretch senior real estate debt, closed at $1.24 billion (£750M). The funds attracted commitments from a diversified global group of investors, with FIRSTavenue serving as the sole global placement agent.
“M&G is one of the premier names in the real estate market and FIRSTavenue is privileged to partner with them on their successful fundraises,” said Paul Buckley, founder and managing partner of FIRSTavenue. “We look forward to continuing our relationship with the entire M&G team and wish them and their investors much success.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
