Macfarlanes advises abrdn on first closing of Commercial Real Estate Debt Fund at £205m

30 June 2022

Macfarlanes has advised abrdn on its latest real estate debt fund, CRED II, which has held a first closing at £205m.

CRED II is an evergreen UK-focused strategy for institutional investors established to invest in a diversified portfolio of senior investment grade real estate debt assets. The fund will take a sustainable approach to lending with the aim of reaching £1bn of commitments in total.

The fund will target investment from public and corporate pension schemes across the UK and will offer ongoing liquidity for investors allowing them to adjust their exposure to the fund over time.

The Macfarlanes team was led by investment management partner Stephen Robinson alongside senior associate Henry Stewart-Brown. Tax advice was provided by tax and reward partner Ceinwen Rees.

Stephen Robinson comments: “It has been a pleasure advising abrdn on this new fund product. CRED II is one of a number of innovative open ended credit funds structured as partnerships on which we have assisted abrdn including abrdn’s Multi-Sector Private Credit Fund.”