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M&G’s real estate debt funds raise more than $597 mil in capital

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

March 12, 2024 3:06 PM SGT

M&G Investments announced the first close of its Real Estate Debt Funds on March 11 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

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M&G Investments announced the first close of its Real Estate Debt Funds, including GBP350 million ($597.19 million) of capital from four institutional clients, in a press release dated March 11. The amount of capital it has accumulated so far for this fund includes a GBP200 million ($341.26 million) investment from LGPS Central Limited and GBP100 million ($170.63 million) from the Prudential With Profits Fund.

M&G Investments is a savings and investment business that is part of the London-based and London Stock Exchange-listed global investment manager M&G. The investment firm says it will continue to raise further capital over the next 18 months for its Real Estate Debt Funds, reaching out to global institutional investors interested in direct commercial real estate loans in Europe.

Dan Riches, co-head of real estate finance at M&G Investments, says that the firm continues to see “very attractive” risk adjusted returns in the sector, despite the rising interest rates and subsequently reduced property valuations. “European and Asian investors have been increasing allocations to private market investments and debt that benefits from being secured against real assets, and they are currently offering compelling returns relative to other asset classes.”

Read also: Central London apartments up 1.2% q-o-q in 3Q; robust buying activity from foreign investors

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