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Samsung SRA raises £170M at 1st close of UK real estate debt fund

Samsung SRA Asset Management Co. Ltd. closed on pledges of £170 million, mostly from Korean insurance companies, in a first close for a debt fund targeting the U.K. office market, IPE Real Assets reported.

The fund will offer senior and mezzanine loans on two- to seven-year terms at competitive rates in London, Manchester and Birmingham, the publication noted, citing Samsung SRA's Chief Investment Officer Young Wuk Chai.

Chai said the first tranche of capital is expected to be deployed within a year. The fund has a two-year investment horizon.