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Specialist lenders
The small- to medium-ticket lending platform was launched this month by the M7 co-founder.
The manager’s seeding of Evermill, a secure income lending platform, signals Delancey is continuing to diversify its strategy.
The specialist lender is backing a London residential scheme being developed by SevenCapital and MARK.
Providers of loan-on-loan finance are pricing in higher interest rates.
Through the new partnership, the organisations have already closed two deals, including the £251m financing of a residential development in London’s Nine Elms.
The alternative asset manager said investing in the UK specialist lender will accelerate its growth ambitions.
The London-based alternative lender has closed its largest commercial real estate debt fund yet and will target £1bn of lending in the next three years.
The M&G-backed development lending specialist says it will bring the cost of borrowing for green schemes down as low as 5%.
The specialist lender, which has focused to date on residential development financing, says the pension fund’s investment will support its lending market growth.
Following its financing of a regional UK office-to-residential conversion, the lender’s chief executive says repurposing projects are creating opportunities for debt providers.