US Debt Ventures raising new fund amid rising US real estate confidence


real estate graphDistressed real estate investor US Debt Ventures has attracted 18 LPs as it targets $50m for its latest investment vehicle, AltAssets has learned.

The Florida-based firm has raised almost $17m for USDV Encore Fund according to a filing with the US Securities and Exchange Commission.

That filing showed each investor is being asked to part with at least $125,000.

USDV attempts to pick up both performing and non-performing assets in the US distressed residential and commercial market according to its website.

The firm is led by CEO and partner Todd Billings, who is the only person listed in the filing.

Billings joined USDV in December 2010 to lead the firm’s corporate strategy, client acquisition, deal making, team building and marketing according to his LinkedIn page.

He was previously CEO and founder of Veriloquent Wealth Advisors, a multi-family office for ultra high net worth families, between 2008 and 2011.

Last week private equity firm Cerberus Capital Management was reported to be looking to capitalise on an expected rebound in the US housing market by backing small investment firms focused on buying foreclosed homes.

That move followed news that the Case-Schiler index, which tracks housing prices in America’s largest cities, had risen at the fastest pace since 2006 in January.

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