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The New York-based firm is targeting $1bn to $2bn in originations in the region next year amid a 'super-interesting time' for non-bank lenders.
The lender originated the loan at a low debt yield but expects this metric to change as the sponsor executes a capex campaign.
The region’s well-developed banking market and strong macroeconomic features are creating a stable lending environment.
The latest Bayes Business School report shows there was £23.7bn of origination in the first half of the year, in line with the same period in 2021.
The firm, which has hired two executives from Cheyne Capital to lead the business, sees opportunities arising from ‘a wall of refinancing’.
The busy conference halls at the Munich event belied a lull in investment activity while the industry awaits stability.
In its latest annual report, the adviser said subordinated finance is increasingly important to the viability of development and acquisition deals.
With further interest rate increases expected, lenders in the UK are finding it difficult to underwrite new loans.
The manager, which provided the loan on behalf of investor Phoenix Group, says there is a strong social case for providing finance in the sector.
The UK specialist lender is aiming to lend £1bn by 2024, with the support of a new funding line from NatWest Markets.