NEW YORK–(BUSINESS WIRE)–Mavik, a multi-strategy, credit-oriented investment firm focused on special situations commercial real estate (“CRE”) and hard assets across North America, announced the close of its second closed-end fund, Mavik Real Estate Special Opportunities VS2 (“VS2” or the “Fund”), with $685 million in total commitments. VS2 significantly exceeded its $515 million target, reflecting Mavik’s strong performance and highly compelling opportunity set as the U.S. enters the fourth year of a higher-rate environment that has stoked widespread dislocation across CRE.
Mavik raised VS2 in approximately a year, a compressed timeframe in today’s challenging fundraising environment. VS2’s final close came less than three years after its predecessor fund, VS1, which had $335 million in total commitments and has achieved top quartile performance for funds of its vintage1. The Fund drew strong support from a broad range of institutional investors, including more than 25 public pensions, as well as consultants, family offices, and Mavik employees.
VS2 continues Mavik’s credit-oriented, flexible investment approach and established track record of investing in overlooked opportunities across the capital structure, markets, and asset classes. With a strategy that thrives on dislocation, distress, and structural complexity, VS2 is poised to capitalize on market inefficiency and illiquidity while prioritizing capital preservation through rigorous underwriting and active risk management.
“We are grateful for the continued trust and confidence of our investors, particularly at a time when many are stepping back from real estate,” said Vik Uppal, Founder and CEO of Mavik. “Our approach remains unchanged. We believe long-term results are earned through discipline and careful investment selection, rather than by pursuing what is popular, and we remain committed to outperformance.”
Mavik’s multi-strategy real estate platform was founded by Vik Uppal to Build Different, with an expansive mandate that is grounded in real estate and hard assets and views the world through a credit lens. To date, Mavik has made 11 investments in VS2 across securities, markets, and property types, underscoring the firm’s ability to adapt to and capitalize on rapid shifts across the commercial real estate landscape.
Max Rosenberg and Sam Alavi of Paul Hastings LLP served as fund counsel.
About Mavik
Mavik is a multi-strategy, credit-oriented investment firm with a focus on special situations commercial real estate (“CRE”) and hard assets across North America. Mavik pursues a flexible investment strategy across securities, markets, and asset classes that seeks to deliver consistent long-term outperformance. Mavik has approximately $2 billion in AUM, has deployed approximately $4 billion, and has realized more than 125 investments since inception.
For more information, please visit www.mavikcapital.com and LinkedIn.
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This release is not an offer of advisory services or securities to any person. Top-quartile refers to Cambridge Associates benchmarking data, and is subject to change. |
Contacts
Madeline Jones / Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
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