PCCP Closes Debt, Equity Funds at Combined $5 Billion

PCCP, LLC announced that PCCP Equity X and PCCP Credit XI raised a combined $5 billion in capital commitments across its opportunistic equity and value‑add credit strategies. The two funds mark PCCP’s largest to date.

PCCP Equity X, the firm’s opportunistic equity vehicle, closed with $2.7 billion in commitments, an increase from $1.8 billion in Equity IX. PCCP Credit XI, the firm’s value‑add credit vehicle, closed with $2.3 billion, up from $1.7 billion in its predecessor fund. Both funds exceeded their hard cap and focus on U.S. middle‑market investments across the four traditional property sectors: residential for rent, industrial, retail and office. As of September 2026, PCCP has executed about half of the capital raised for Equity X and allocated over one-third of the capital in Credit XI.

William Lindsay, co‑founder and senior managing partner with PCCP, said, “What resonated with investors is the fact that we have both a credit business and an equity business, and we have one investment team and one investment committee that services both. They’re very synergistic, so we believe we see a lot more deal flow than most.”