New York & Tri-State + Finance | March 12, 2021

AllianceBernstein Holds $900M First Close on Fourth CRE Debt Fund

AllianceBernstein L.P. (AB), with New York offices in Midtown Manhattan, completed the first closing of its fourth US Commercial Real Estate Debt fund (CRED IV). The fund has so far secured nearly $900 million in capital commitments.

CRED IV will directly originate floating-rate, first-mortgage whole loans secured by high-quality, transitional U.S. commercial real estate. New York-based Equitable will serve as a lead investor, continuing the strong partnership between AB and Equitable.

Matthew Bass, head of private alternatives for AB, said, “Attracting close to $900 million in capital commitments for CRED IV’s first closing demonstrates the continued appeal of our US CRED funds, which are poised to continue thriving as opportunities continue to emerge after the shock of COVID-19.”

He added, “Our CRED strategy provides strong credit diversification and attractive yield premium relative to public credit. We’re confident these attributes will continue to attract investor interest.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).