Northwind Group closed its third debt fund with $1 billion, double its $500 million target. That number says more than any press release.
Ran Eliasaf, founder and managing partner at Northwind Group, said the fund is nearly 60 percent deployed now and should hit 90 percent by the end of 2026.
The fund's investor base includes pension funds, insurance companies, banks, family offices, and ultra-high-net-worth individuals. Eliasaf said the successful fundraise reflects the success of Northwind's first two real estate credit funds of $220 million and $326 million, with many of those investors returning to support the new vehicle.
Eliasaf said about 93 percent of the fund will be geared toward residential properties, with typical loan sizes in the $100 million to $200 million range.
Easy to announce, harder to underwrite.