Anastasia Donde

Both hires are former colleagues of the credit firm’s two partners, Michael Zupon and Dean Criares.   

 The $32 million loan represents a follow-on commitment to Spirit Bascom Ventures, a JV between  New York and California based real estate firms. 

Although investors are worried about rising interest rates, the market being fairly priced in, political instability and other factors, the big shots at some well-known asset management firms are still finding lucrative bargains.

The new venture, called Principal Commercial Capital, is the Australian bank’s first foray into mortgage lending, while Principal has been involved in mortgage lending since 1999.  

The $358 million securitization consists primarily of senior loans in mid-market companies.

Via a recent survey, KPMG predicts that more mid-market lending activity will increase from a spike in M&A activity in the second half of the year, although political unrest across the world could pose a risk to the credit markets.

Cov-lite isn’t a widespread feature of the private debt market – yet.

The Garden State pension fund is investing $100 million in the mezzanine and bridge loan real estate fund.

The New York based lender has recently reached $500 million in new loan commitments and added four people to its investment staff.

The private debt market is replete with opportunities, with lenders and fund managers discussing new deals and several big players looking to get into the sector. Watch this space for further PDI Forum coverage.