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