SL Green Realty Corp. said Friday it closed its SLG Opportunistic Debt Fund with total capital commitments of more than $1.3 billion, surpassing the initial $1-billion fundraising target. Additional investment capacity comes from 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, CIO 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 was launched in 2024 to focus on capitalizing on the dislocation between rapidly improving leasing fundamentals and the early stages of improving debt capital markets. It targets high-quality assets in New York City, delivering flexible capital solutions to both borrowers and lenders, originating new loans and/or purchasing existing loans, loan portfolios and controlling CMBS securities.
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