Debt specialist Allrise Financial Group will establish a minimum $100 million real estate fund in the U.S., along with two European funds and a joint venture in Russia, IPE Real Assets reported, citing the company.
The fund targeting the U.S. will provide senior and bridge loans and may expand into mezzanine loans and preferred equity. IPE also cited the privately owned U.S. financial services company as saying that it will take its business to European markets that include the Czech Republic, Poland and Hungary.
Separately, Allrise will form a partnership with an unidentified "major institutional investor" through its lending business in Russia, according to the report.
To oversee the expansion, the company designated Inna Zhuranskaya, who hails from Singapore's sovereign wealth fund GIC and Merrill Lynch, as its new CEO.
Allrise operates in the real estate lending market of the U.S., Russia and Ukraine, the March 29 report noted.