Eighteen is new figure at Aalto

New senior lender Aalto Invest has beefed up its small team by hiring former RBS banker Stephen Eighteen.

Aalto has €700m of client capital for senior lending and made its first investments in April and May, participating in loans secured on London’s Adelphi building, WC1 and Intu shopping centres. Eighteen will originate new loans.

“Aalto is a very interesting platform outside banks and insurance companies,” he said. “We have a bit more flexibility and can move faster than established lenders and, while banks can be more cashflow driven, we tend to take a bit more property risk.”

Aalto recently took a third participation, in a loan origi- nated by Deutsche Bank for Blackstone’s acquisition of Lacon House in Holborn.

Aalto lends at loan-to-value levels of up to 70% and on maturities up to nine years.