NEW YORK CITY—Goldman Sachs has closedBroad Street Real Estate Credit Partners II atmore than $4 billion, the investment bank said Wednesday morning.It plans to extend credit to borrowers in Europeas well as the US, the first time Goldman's merchant bankingdivision has done so through such a fund.

“The flexibility to invest across the capital structure andagainst all major asset classes is a distinct competitive advantagein creating unique financing solutions for our borrowers,” saysPeter Weidman, a managing director with the MBD, who will overseeRECP II. “Since our first closing, we have already invested over$500 million and we continue to see an attractive pipeline ofinvestment opportunities in both the US and Europe.”

RECP II will make senior loans and mezzanine loans backed byhigh quality commercial real estate assets, to fund acquisitions,refinancings and recapitalizations in the US and Europe. “RECP IIwill build upon the strong performance of our first fund, whichinvested over $3.5 billion in high quality loans, and our team'sproven track record in creating solutions on complex transactions,”says Alan Kava, co-head of MBD's real estateinvesting group.