“We had to turn investors away:” Distressed RE funds raising cash at breakneck pace

Florida-based firm Kayne Anderson just raised $1.3 billion for a distressed debt fund in just two weeks. It normally takes between a year to 18 months to raise that kind of cash. “We had to turn investors away,” Kayne Anderson’s real estate head Al Rabil told the Wall Street Journal. Investors looking to capitalize on the opportunities created by a pandemic-frozen economy are pouring billions of dollars into funds that plan to scoop up debt

source https://therealdeal.com/2020/04/21/we-had-to-turn-investors-away-distressed-re-funds-raising-cash-at-breakneck-pace/