Laxfield Capital raises £500m

UK property debt specialist has raised its debut commingled debt fund.

Laxfield Capital has added its first commingled debt fund to its longstanding lending business after raising £500 million (€568 million) of discretionary capital from institutional investors. The vehicle can provide loans of up to £100 million against income-producing assets, including transitional and ‘light development’ schemes, with terms between 12 months and seven years and leverage up to 75 percent. The fund has been seeded with £250 million of loans which have already been originated, although the fund can be upsized once the initial £500 million has been invested.