Downing hires real estate lending head, adds £500m funding line
What's the deal? DowningDealroom has a profile for this one. Try Dealroom → has appointed George Cotterell as partner and head of commercial real estate lending, alongside launching a new £500m institutional funding line. The £2.6bn investment firm said the line will increase its deployment capacity.
Who's the hire? Cotterell joins from ESR EuropeDealroom has a profile for this one. Try Dealroom → and previously worked at Venn PartnersDealroom has a profile for this one. Try Dealroom →. He takes on a newly emphasised role as Downing scales up its commercial real estate lending.
What's the endgame? Downing has committed £1.5bn to private credit transactions since 2010, lending across residential and commercial real estate, as well as structured credit. The firm is now broadening that offering.
Why now? Kostas Manolis, deputy chief executive and head of private market investments, called the moves "an important milestone in the next phase of our expansion." He described scaling up commercial real estate lending as "a natural progression that broadens our offering."
The signal: Pairing a senior hire with fresh capital shows Downing positioning for growth in a competitive private credit market, where rivals such as ICGDealroom has a profile for this one. Try Dealroom → and JefferiesDealroom has a profile for this one. Try Dealroom → are also expanding European lending capacity.
Read more: alternativecreditinvestor.com
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