Crestmount Capital, the direct-lending institutional investment firm focused on property-backed investments, has closed its first fund, raising A$244 million (US$190 million), including approximately US$57 million of co-investment capital for PICC, L.P., the Chinese asset-management giant.

Of the total A$244 million raised for Fund I, 83% came from the Asian investor base and Crestmount's existing relationships, with the majority of commitments coming from North Asia, followed by the Middle East. Investors included pension funds, foundations and asset managers. Newcomer LSM Management acted as Crestmount's primary placement agent.

Fund I's investment strategy focuses on direct lending secured by property assets in markets with strong fundamentals and favorable risk-return profiles. The fund targets senior and mezzanine debt positions across a diversified portfolio of commercial and residential real estate assets, primarily in the Asia-Pacific region.

"With a strong and diversified investor base now in place, we are well-positioned to execute on our pipeline of attractive lending opportunities across the Asia-Pacific region."

— Khalid Wajeed, Crestmount Capital

"LSM was key to our detailed approach. With firepower in excess of A$240 million, we are well-positioned to make the most of any opportunities that come our way. Thomas, Sid and the rest of the LSM team have been crucial to our success."

About Crestmount Capital

Crestmount Capital is a direct-lending institutional investment firm focused on property-backed investments. The firm provides bespoke financing solutions to borrowers across the Asia-Pacific region, targeting opportunities where traditional bank lending has become constrained. With a disciplined underwriting approach and deep regional expertise, Crestmount delivers attractive risk-adjusted returns for its institutional investor base.