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Beach Point Capital Management, a diversified alternative asset manager, has closed its BPC Real Estate Debt Fund with $545 million of investable capital. The investors include pensions, insurance companies, family offices, sovereign wealth funds, foundations and endowments, among others.

BPRED is Beach Point’s first dedicated real estate fund, building on the firm’s strong history of investing across private and public real estate capital structures in its diversified funds, and pursues a flexible, all-weather approach to investing across the United States’ middle market. The fund’s strategy spans directly across originating loans, seeking to opportunistically purchase debt at compelling discounts to intrinsic value, and special situations that may provide additional equity upside.