Merchant Bank BDT & MSD Raises $3.2 Billion for Latest Real Estate Credit Fund
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BDT & MSD Partners, the merchant bank created by the merger of firms backed by Byron Trott and Michael Dell, raised $3.2 billion for a new real estate credit fund that’s providing capital to US borrowers at a time when many traditional lenders have retreated.
The firm’s employees and Dell committed $600 million to MSD Real Estate Credit Opportunity Fund II, according to people with knowledge of the matter, who asked not to be identified discussing confidential information. Led by real estate credit co-heads Jason Kollander and Adam Piekarski, the vehicle aims to return 10% to 15% annually, after fees, the people said. Global credit chief Rob Platek is also on the fund’s investment committee.