IPE reported in January last year that the manager planned to raise £500m for CRECH V.: Cheyne Capital Management’s fifth real estate debt fund has reached its £600m (€673.5m) hard cap target at close. IPE reported in January last year that the alternative asset manager was planning to raise £500m for Cheyne Real Estate Credit (CRECH) Fund V. CRECH V has an opportunistic approach to the asset class, with an ability to invest across the capital structure. The fund targets double-digit returns whilst maintaining an overarching focus on capital preservation.