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Alternative lenders
The investment manager’s latest fundraising drive follows the closing of €200m of loans to Blackstone from its third mezzanine debt fund.
The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.
The vehicle will primarily lend against PRS and student accommodation assets in Spain and the UK.
The pension fund, among others, is concerned about the additional risks managers in the strategy are taking in order to meet higher return targets.
Nest is targeting 5% of its £8bn in assets for private debt investments as it takes it first steps into private markets.
Non-bank lenders' growing interest in continental Europe has coincided with a drop in investment in the UK.
Investment in Europe’s non-mainstream property sectors leapt last year, and debt providers are increasingly willing to provide finance.
Debt providers are exploring new sectors, alternative lenders’ influence is growing, and banks are keen to push their green credentials.
In the first of three instalments, Real Estate Capital highlights the UK and German banks most actively providing finance to Europe's real estate markets.
CREFC Europe’s latest quarterly survey of market sentiment highlights uncertain market conditions but responses in some areas were slightly more positive than in the previous three months.