Black Card Investments is closing its Private Equity Mortgage Fund with $150 million just two weeks after opening to investors, a source close to the fund says. The fund, which launched on Oct. 1 (FINalternatives 9/22), is a hybrid venture capital/private equity vehicle specializing in commercial property investments and brokerage. The fund is also allocating around 20% of its portfolio to a New York-based hedge fund.
The fund is being managed out of Dubai by Adam Antoszewski. According to the source, the bulk of the new investors are Chinese institutions.