AllianceBernstein LP has launched its first commercial real estate debt fund as part of the firm's ongoing efforts to broaden its alternative investment offerings.
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The fund raised more than $700 million and will primarily focus on $15 to $75 million first mortgage investments secured by “high-quality, transitional properties” throughout the United States.
Roger Cozzi, who joined AllianceBernstein this year, will lead the fund and AllianceBernstein's newly formed CRE debt group.
Cozzi previously was CEO of
