Private Credit

Direct Lending Across the Capital Structure

The retreat of banks from middle-market and large corporate lending has created a permanent opportunity for non-bank lenders with capital, underwriting expertise, and the ability to move quickly. We have all three.

We lend first lien, second lien, and mezzanine across corporate, real estate, and infrastructure credit. Our underwriting starts with the downside — what happens to our recovery if this credit defaults — and works backward to structuring.

Our Credit Strategies

1. •

   Direct Lending — First and second lien loans to sponsor-backed and independent middle-market companies

2. •

   Real Estate Credit — Senior and mezzanine construction and bridge loans on institutional-quality properties

3. •

   Infrastructure Debt — Long-duration loans to operational infrastructure assets with contracted revenues

4. •

   Opportunistic Credit — Special situations, distressed debt, and rescue financing

5. •

   CLO Management — Actively managed pools of broadly syndicated and middle-market loans