Direct Lending & Specialty Finance
Strategy
- Direct lending and special situation opportunities arising from structural complexity and/or illiquidity
Characteristics
- Attractive yields (current pay and/or payment-in-kind)
- High quality borrowers and collateral
- Provide financing for non-conforming projects
- Takeout by project sponsor or bank upon development or stabilization
- Typical hold period of 24 to 36 months
- Instruments include senior and subordinate tax-exempt/taxable bonds, senior/subordinate loans, mezzanine debt, preferred equity
Fundamental Advantage
- Comprehensive experience underwriting complex credits and other special situations
- Adaptive approach to providing bespoke private credit solutions with flexible structures
- Reliable capital source keenly focused on certainty of execution