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DRC Capital closes third mezzanine fund on GBP600 million

DRC Capital has closed its third mezzanine and whole loan fund on £600 million (682 million). The firm said the DRC European Real Estate Debt Fund III capital-raising was oversubscribed and exceeded its initial £500 million target. DRC ERED III raised its capital from an investor base consisting primarily of public and private pension funds and insurance investors across Europe, North America and the Middle East. New investors constituted around 40 percent of the commitments.