SL Green Realty Corp. (NYSE: SLG) shares were virtually unchanged Friday. Manhattan’s largest office landlord today announced the final closing of its SLG Opportunistic Debt Fund with total capital commitments of more than $1.3 billion. Additional investment capacity is provided by sidecar structures and discretionary separate accounts.
“We believe this milestone underscores the strong and sustained demand from a global investor base seeking access to SL Green’s differentiated real estate credit platform and its proven ability to generate attractive risk-adjusted returns.,” said Harrison Sitomer, Chief Investment Officer at SL Green. “Our focus now shifts to deployment into a robust pipeline of debt investment opportunities in a rapidly evolving market environment.”
The Fund surpassed its initial $1.0 billion fundraising objective with commitments from leading institutional investors across North America, Europe, Asia, and the Middle East. In parallel, SL Green secured significant capital in bespoke sidecar partnerships and discretionary separate account mandates designed to pursue larger scale and more complex opportunities that align with the Fund’s thematic investment strategy.
“We appreciate the trust that our partners have placed in us,” said Young Hahn, Senior Vice President at SL Green. “This capital positions us to move decisively across the capital structure, particularly in situations where speed, creativity and structuring expertise drive meaningful value.”
SLG shares lost nine cents, or 0.2%,to $43.60.
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