Mavik Closes $685M Special Situations CRE Fund
Mavik Capital has closed its second flagship vehicle, Mavik Real Estate Special Opportunities VS2, with $685 million in total commitments, significantly surpassing its $515 million target and completed in just one year.
The new fund follows its predecessor, VS1, which closed less than three years ago with $335 million and has delivered top-quartile performance. VS2 attracted commitments from more than 25 public pensions, alongside consultants, family offices, and Mavik employees.
Mavik will deploy the capital through its credit-oriented mandate, targeting overlooked opportunities across the capital structure where dislocation, distress, or complexity create value. The firm has already made 11 investments from the new fund across securities and property types.
“We are grateful for the continued trust and confidence of our investors, particularly at a time when many are stepping back from real estate,” said Vik Uppal, Founder and CEO of Mavik. “Our approach remains unchanged. We believe long-term results are earned through discipline and careful investment selection, rather than by pursuing what is popular.”
Paul Hastings LLP served as fund counsel.