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Calmwater Raises $636M for Third Fund

Calmwater Asset Management closes its U.S. Real Estate Credit Fund III with commitments from pension funds and family offices around the globe.

By Kelsi Maree Borland | Updated on January 25, 2018

Calmwater Asset Management has closed its third fund, U.S. Real Estate Credit Fund III, with $636 million in commitments. The firm secured investments from pension funds and family offices around the globe, including North America, Asia, Europe and South America. The fund will focus on originating senior loans valued at $5 million to $50 million. To find out more, we sat down with David Traversi, president of Calmwater Capital, to find out more about the fund and the fundraising.

GlobeSt.com: Did the fundraising for your third fund meet your expectations?

David Traversi: Yes, we are thrilled with the fund raise.  We initially put a target out there of $750 million, but with the understanding that that was very much a stretch goal for a manager that was raising its first broadly marketed fund.  We recognize that our $636 million raise is highly successful against all measures of institutional fund raising.

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