ICG-Longbow gathers £1bn

 The fourth fund in the series raises 33 percent more than its predecessor.

 ICG-Longbow UK Real Estate Debt Investments IV has closed at its hard-cap of £1 billion, surpassing the original target of £750 million. The fund predominantly invests in self-originated whole loans secured against UK commercial property, with a capacity to also invest in mezzanine debt, preferred equity, development loans and secondaries loan acquisitions.

Limited partners in the vehicle are based in the UK, Europe and Asia and include new and returning investors.

The third fund in the series, ICG-Longbow Real Estate UK Debt Investments III, collected £700 million at final close in May 2013. Michigan Laborers Pension Fund, the University of Manchester Superannuation Scheme and the Producer-Writers Guild of America Pension Plan were among the investors in this vehicle.