Ballast Rock Debuts First Real Estate Private Credit Fund
Ballast Rock has introduced the Ballast Rock Real Estate Private Credit Fund, aimed at providing senior-secured loans to small and medium-scale real estate and solar projects, managed by select developers.
The fund, targeting a maximum raise of $50 million, will invest in senior-secured debt with potential equity upside. “Investors in our private equity and venture capital funds have long encouraged us to explore opportunities in private credit, so we feel a fund that can benefit from our deep experience in real estate and infrastructure was a natural next step,” said Simon O’Shea, CIO of Ballast Rock.
Max Jackson, recently appointed as managing director and private credit portfolio manager at Ballast Rock Asset Management, will oversee the fund.
The fund will target four key strategies: lot banking, DST lending, franchise, and solar development lending.
“We believe having a focused approach to our investments, in areas where we have experience, is a differentiator in a private credit market with many new entrants,” Jackson said. “In addition, we plan to target loan sizes of $5 million or less, since we view that market as underserved.”
Loans will typically hold a senior-secured or preferred position, ensuring priority in proceeds from investment exits, with expected holding periods of six to 18 months. The Ballast Rock Real Estate Private Credit Fund is open to U.S. accredited investors, with a minimum investment of $50,000.
Ballast Rock operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate and Ballast Rock Ventures.
