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Whole loan
The asset manager is aiming to deploy £200m of capital through a UK-focused debt fund.
A survey of UK debt trends shows alternative lenders are encroaching further into senior banks’ territory.
DRC Capital has closed its third mezzanine and whole loan fund on £600 million (€682 million).
LaSalle Investment Management has closed its third mezzanine and whole loan fund on £804 million (€903 million).
Floating-rate five-year loan has a 65% LTV ratio.
The debt package, with a term of almost five years, has been provided to the Real Estate I fund of the European private equity firm EQT.
M&G Investments is to provide a £517 million (€579 million) whole loan for the development of 1 Grosvenor Square in central London.
M&G Investments has provided a five-year whole loan to finance the recent acquisition of a Scottish retail park by an Orion Capital Managers fund.
LaSalle Investment Management has provided around £100m to Brockton Capital for its £137m acquisition of Great Minster North in Victoria, London. The whole loan reflects a loan-to-value of just over 70%. LaSalle is planning to syndicate the facility.
Macquarie has arranged the financing for LDC's £307m acquisition of the NEC Group from Birmingham City Council. LDC is Lloyd's regional mid-market private equity group.
Maquarie originated and structured the debt as a whole loan, which is being tranched and syndicated. Macquarie introduced RBS and two others to the syndicate pre-closing and will be keeping a significant holding until maturity in six and a half years. .