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NEW YORK CITY-Capital Trust is closing CT Opportunity Partners I LP, a private fund with total equity commitments of $540 million. The locally based company is committing to invest $25 million, with the remaining equity coming from third party investors.

According to a prepared statement, the fund will “seek to exploit immediate and longer term opportunities emanating from the current financial market dislocation.” The fund is managed by CT Investment Management Co. LLC, Capital Trust’s wholly-owned investment management subsidiary. A Capital Trust source could not provide GlobeSt.com with any information pertaining to the fund, noting that what’s in the release is all the information that it is being made public at this point.

John Klopp, CEO of Capital Trust, says in a prepared statement that “this fund represents another important step in the build-out of our investment management practice. Coupled with the high grade fund that we announced in June, we have raised over $1.2 billion of private equity capital in the last six months, positioning CT to take advantage of opportunities at all points in the real estate capital structure.”

The fund held its first closing in December 2007 and has a three-year investment period. CTIMCO will earn management fees equal to 1.6% of the aggregate committed capital during the investment period and 1.60% per annum of the aggregate invested capital thereafter, plus incentive management fees after investors receive a return of capital and a preferential return.

The June fund Capital Trust formed is CT High Grade Partners II LLC with $667 million of commitments from two institutional investors. That fund was created to invest in “high grade” commercial real estate debt, including investment grade securities as well as whole loans and participations therein. The fund is also be managed by CT Investment Management. CT High Grade Partners II has a one year investment period subject to extension by mutual agreement. Investments will be funded 100% with the investors’ capital utilizing no leverage and CTIMCO will earn a management fee equal to 0.40% per annum on invested assets.

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