Contrarian Capital Management has lined up the initial investors for its first opportunity fund
Contrarian Capital Management has lined up the initial investors for its first opportunity fund. So far, the firm has raised $140 million of equity for its Contrarian Capital Real Estate Fund, which will target a 20% internal rate of return by investing in distressed properties and debt. The fund will also write mezzanine loans. It is hoping to raise $250 million overall. Contrarian Capital Real Estate’s strategy mimics the investment approach that Contrarian has employed in various separate accounts and an open-end fund over the years.
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