Real Estate Credit Investments Limited is a Guernsey-domiciled closed-ended investment company specializing in real estate debt. It originates and invests in a diversified portfolio of loans and bonds secured by commercial and residential properties, primarily in the United Kingdom, France, and broader Western Europe. Externally managed by Cheyne Capital’s real estate business, which oversees $6.5 billion in assets, the company targets stable quarterly dividends with minimal volatility across economic cycles through levered exposure to real estate credit. Its investments span senior loans, mezzanine debt, special situations, market bonds like Commercial Mortgage Backed Securities, and self-originated bilateral deals, emphasizing fundamental credit analysis and geographic diversity. Launched in December 2005 with total assets around £412 million and a market capitalization of approximately £276 million, Real Estate Credit Investments Limited plays a key role in providing income-focused exposure to European real estate debt markets, supported by a 9.68% dividend yield and monthly NAV reporting.