Encore Capital Management is looking to raise $400 million for a new fund, with a view to acquiring land and building homes for sale, Bloomberg reported, citing sources privy to the matter.
The asset manager and real estate developer is in discussions with institutional investors regarding the fundraising plan, and the fund would target inexpensive, entry-level and seniors housing, according to the report.
Bloomberg noted that it could not retrieve a comment from Encore COO Oscar Vasquez on the matter.
