Distressed debt private equity fund manager Maverick Real Estate Partners has reached its hard fundraising cap for Maverick Lien Fund IV LP with USD75 million in commitments from endowments, foundations, family offices and wealth managers.
The fund is now closed to new investors.
"Maverick is grateful for the support of our new and long-standing investors, and is overwhelmed by the interest in our contrarian investment strategy," says David Aviram, principal and director of acquisitions.
Maverick acquires defaulted commercial mortgages, mechanics liens, and judgments secured by real estate located in the New York City area.
"Given Maverick’s local expertise, availability of capital, and singular focus in acquiring distressed debt, Maverick is able to underwrite and close complex transactions quickly,” Aviram says. “Serving as an outlet for problem assets, Maverick is a true partner for private lenders and banks, allowing them to focus on operating their core lending businesses.”
Maverick invests USD1 million to USD10 million per transaction, and typically closes within 10 days.
