alternative lenders

Miami manager will allocate $175m toward providing debt financing for value-add and distressed opportunities.

The Miami-based firm has garnered investments from some of the biggest institutional investors including CalSTRS and Mubadala.

The New York-based banking giant has been working to actively reduce its balance-sheet exposure to the sector since the start of the year.

Continued lack of liquidity in banking system leaves private credit lenders to fill financing gaps.

The acquisitions are part of the firm’s focus on workforce housing. 

Specialist lenders are gearing up for distress in various ways, such as creating short-term structured credit platforms to originate mezzanine debt or preferred equity.

McRoberts’s retirement triggers three appointments to oversee the $45bn agency servicing portfolio.

Over the long-term, the firm hopes to have half of its portfolio in the US and other developed markets.

The Newport Beach-based manager has closed its second property credit fund on $3bn, more than double the size of its predecessor.

The manager expects high interest rates and lower deal volumes to restrict broader CLO market comeback.