Nuveen’s first closed-end fund offering in CRE credit is officially in the books, with total equity commitments coming in $150M above its initial $500M target. 
The U.S. Strategic Debt Fund is a closed-end, value-add fund focused on originating senior, floating-rate loans that are backed by traditional real estate assets in need of an operational, physical or financial reorganization. 
Nuveen plans to swoop in where traditional lenders have pulled back, Nuveen’s head of real estate debt for the Americas, Jason Hernandez, said in a press release.
Over 40% of the fund has already been committed, Hernandez told PERE Credit. 
Investors such as foreign and domestic pension…