Moorfield fund nets £100m

US and European investors have committed £100m to Moorfield Real Estate Fund III, Moorfield Group’s follow-on private equity real estate fund.

Moorfield is targeting £250m for a final closing. The fund will consider asset buys, indirect investment via companies or joint ventures, or providing mezzanine or structured finance.

Moorfield chief executive Marc Gilbard said support from existing limited partners had helped it to reach a first closing “in this very challenging fund raising environment. We expect second and subsequent closings to follow shortly now the fund is live and making investments.”