Duet Private Equity has completed a second close for its mezzanine debt fund, raising £75m, short of its initial target of £100m.

Duet raised the money for its European Real Estate Debt Fund, which provides mezzanine finance for property companies.

The additional investments have come through a £50m listing of Duet Real Estate Finance Limited, a company that will be listed on the London Stock Exchange, and £25m of further commitments to the unlisted partnership. The initial target was to raise £100m through the listing.

The second close was mainly subscribed to by institutional investors from across Europe. It raised €100m in its first closing.

Dale Lattanzio, managing director of Duet Private Equity Limited, said:

“There are many opportunities to be uncovered in the European commercial real estate debt market, knowing where to look and executing them is the key. We’re looking forward to investing the enlarged assets of the fund. A number of investors continue to show interest in the strategy and we intend to work with these investors with a view to increasing the overall size of the fund”

 Evercore Private Funds Group acted as placement agent and adviser for Duet Private Equity Limited. Oriel Securities acted as sole financial adviser, sponsor and bookrunner for the listing of Duet Real Estate Finance Limited.