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The London firm hit its £500m hard-cap on predecessor fund CREDF III in June last year.
The UK property firm is close to finalising a £100m joint venture to target real estate debt in the UK.
The firm last week announced a retail and hotel refinancing in London, bringing its European loan book to £1.1bn.
Velo Capital, the recently formed group’s credit arm, will target financing opportunities including ‘brown-to-green’ schemes.
The firm has seen a retrenchment from banks and is looking to ‘control more of the capital stack’ amid refinancing shortfall.
The French manager, and joint venture partner Altarea, have committed €200m of initial capital to their first dedicated real estate debt vehicle.
The Berlin-based firm says its open-ended credit vehicle is one of the first in Germany to be classified as Article 9.
The two managers have financed a 130,000 sq ft green office refurbishment in the UK and a 160-bed student housing asset in Spain.
The Canadian manager secured financing from a consortium of lenders to develop a further 440,000 sq ft on its Harwell campus in Oxford.
A full-scale financial crisis currently looks unlikely, but there is further potential for volatility, the manager warned.