CRED IV is a continuation of the transitional real estate lending strategy successfully implemented by previous AB CRED funds. CRED IV will directly originate floating-rate first mortgage whole loans secured by high quality, transitional US commercial real estate. Those loans are held on an unleveraged basis.
The platform of CRED funds has originated in excess of 100 loans and raised nearly
The successful first close of CRED IV is further demonstration of AB's ability to raise significant capital for its fast-growing private alternatives platform, despite the challenges posed by COVID-19. The close follows quickly on AB's announcement in Q4 of last year of the launch of its new European Commercial Real Estate Debt ("ECRED") platform. ECRED, led by industry veteran
"Our CRED strategy provides strong credit diversification and attractive yield premium relative to public credit. We're confident these attributes will continue to attract investor interest, as we look toward future Fund IV closings."
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Additional information about AB may be found on our website, www.alliancebernstein.com.
The alternative fund is only available to both "qualified purchasers" under Section 3(c)(7) of the Investment Company Act of 1940, as amended, and "accredited investors" under the Securities Act of 1933, as amended.
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SOURCE
Mark Griffin, Investors, 629-213-5672, Mark.Griffin@alliancebernstein.com, OR James Harvey, Media (UK), +44207-173-9212, James.Harvey@alliancebernstein.com, OR Carly Rolfe, Media (US), 629-213-5568, Carly.Rolfe@alliancebernstein.com