ACORE Raises $1.1B for Second Opportunistic Credit Fund

ACORE Capital has closed its second opportunistic credit fund with $1.1 billion in commitments, exceeding its $1 billion target. ACORE Opportunistic Credit II closed at more than four times the size of its predecessor.

The fund has committed $400 million across 14 transactions. Since its founding in 2015, ACORE has committed $1.34 billion to opportunistic credit investments.

“At a moment of significant dislocation across commercial real estate, we believe our experience, relationships and capabilities position us to capitalize on the market opportunity and continue delivering for our investors,” said Warren de Haan, CEO and co-founder of ACORE.

Matthew Drummond, senior managing director and head of high-yield strategies, said repricing across property types is creating opportunities to finance business plans based on discounted valuations. He said the firm sees attractive risk-adjusted return potential in opportunistic real estate credit.

ACORE managed more than $17 billion in assets as of June 30. Its business includes commercial real estate lending, loan acquisitions and select equity investments, with offices in New York, Los Angeles, Miami, San Francisco and Dallas.

Earlier this year, ACORE completed a $1.1 billion commercial real estate collateralized loan obligation, ACORE 2026-FL1. Its initial collateral pool comprised 22 loans secured primarily by multifamily and industrial properties.

Last week, the firm launched ACORE Capital Wealth Solutions and appointed Mick Manning president. The platform is designed to give financial advisers and their clients access to commercial real estate investment strategies, extending ACORE’s distribution into the individual investor market alongside its institutional business.