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ICG-Longbow, the real estate debt-focused arm of Intermediate Capital Group, has held a final close of its third senior debt fund on £370 million (€409 million).
ICG-Longbow has fully realised its value-add real estate debt fund which it launched in 2011 to take advantage of post-crisis lending opportunities in the UK market.
ICG-Longbow has provided a £16 million loan through its listed senior UK debt fund to clients of BMO Real Estate Partners, following the repayment of two loans to the fund, according to Real Estate Capital's sister title, Private Debt Investor.
ICG-Longbow has closed its first financing of a London residential project for its UK development lending mandate, with a £135 million loan for an apartment tower in Canary Wharf.
ICG-Longbow has outlined its proposals for a revised investment strategy for its listed UK senior real estate debt fund, which “better reflects” current market conditions.
Real estate debt fund lender ICG-Longbow has surged past its £750 million ($933 million; €864 million) fundraising target for its fourth vehicle and hit the £1 billion hard-cap, according to Real Estate Capital's sister title, Private Debt Investor.
ICG-Longbow is planning to change the investment strategy of its listed senior debt fund in the face of lower returns achievable for UK senior property debt.
ICG-Longbow, the real estate debt business of Intermediate Capital Group (ICG), has completed the raising of £425 million from a single party to be invested in UK residential development loans.
ICG-Longbow has hired David Mortimer from Santander to head up its senior lending programme.
ICG-Longbow, ICG's real estate debt business expects to exceed last year’s lending volumes after deploying more than £750 million across its funds so far this year.
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