Fort Lauderdale-based private equity firm IBS Investment Bank – a division of Institutional Banking Services – has launched its USD350m open-ended IBS Debt Ventures Fund IV.
Backed by seven major institutional investors, the real estate fund was formed to assemble a portfolio of "opportunistic" investment funds focusing on investments in real property interests.
Identical to its predecessors, the portfolio will consist primarily of debt and equity interests in distressed commercial property, commercial mortgages, commercial mortgage-backed securities, and the debt and equity securities of real estate operating companies on a global basis, with a primary focus on providing bridge financing in the US.
IBS structured a programme that overcomes collateral and delinquency issues allowing investors to ascertain capital for discounted payoff opportunities, chapter 11 reorganisations and the acquisition of distressed property.
"We think we have a unique business model. We have built a dedicated boutique platform which is backed by resources that are highly respected in the marketplace," says IBS chairman and chief executive officer Jason H Jackson.
