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New York

Northwind Group launches $220M debt fund focused on NYC

Platform will invest in special situations

Northwind's Ran Eliasaf
Northwind's Ran Eliasaf

Ran Eliasaf’s Northwind Group is launching a big debt fund targeting special situation loans in the New York City area.

The $220 million fund will make loans for acquisitions and construction, as well as bridge and condo-inventory loans, Northwind managing partner Ran Eliasaf told The Real Deal. The fund will also provide rescue capital to sponsors and finance distressed assets, non-performing loans and other special situations.

“We’re going to focus on the middle market, around $15 [million] to $20 million up to $50 [million] or $60 million,” he said.

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The fund is starting with a $70 million anchor investment from what Eliasaf described as a large Israeli pension fund.

Northwind also announced the company hired Gabriel Hamani to manage the fund. He had been CEO of the U.S. arm of Bank Hapoalim, Israel’s largest bank, which Northwind has worked with before.

Eliasaf launched Northwind in 2008. The company is an investor alongside the Gural family’s GFP Real Estate in the redevelopment of the 7 Hanover Square office tower in the Financial District.

Contact Rich Bockmann at rb@therealdeal.com or 908-415-5229

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