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ADIA backs $832m European real estate debt fund

Canary Wharf, London Adia Cheyne Reuters/Nurphoto/Nicolas Economou
A view of Canary Wharf, London. The Capital Solutions strategy focuses on senior lending against European real estate

Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, will pump additional capital into Cheyne Capital’s European real estate debt fund, increasing the total investment to £650 million ($832 million).

The investment by a Gulf state-owned fund subsidiary marks the ninth round of the London-based Cheyne Real Estate Credit Holdings programme, called the Capital Solutions strategy, the hedge fund said.

No details on the size of the investment were given.

“We have invested with Cheyne for a number of years,” said Mohammed Al Qubaisi, executive director of ADIA’s real estate department. Al Qubaisi said he believed that it was a “compelling” investment proposition in a market that is looking to private credit lenders for capital.

Cheyne Real Estate invests across the real estate sector, including in student accommodation and affordable and senior housing projects.

Last August, an ADIA-owned unit said it would invest A$700 million ($449 million) into one of its Australian commercial real estate private credit fund.

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