The product range in the UK covers residential, mixed-use and commercial bridging, development exit, light and heavy refurbishment, vacant land and development finance.
Pallas Capital said the proposition aimed to “support borrowers at every stage of the property lifecycle, including acquisition, development, refinancing and transitional assets”. It added that there was an “an emphasis on speed, certainty of execution and tailored structuring”.
The firm added that it was entering the UK with “significant funding” already in place. This includes a forward-flow agreement locked in with a major US credit fund, a securitised warehouse with a Wall Street investment bank close to completion, and substantial Australian high-net-worth (HNW) capital available for deployment.
The team in the UK will be led by a “highly experienced team”. This includes executive director Ben Keenan, chief credit officer Uliana Kuzmis, senior originator Mark Witherington, originator Anna Thompson and underwriters Jamie Peacha, Nicolete Iorgu and Chris Adams.
More additions to the team will be announced in due course.
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Keenan has worked at Pallas Capital since 2022 and was based in Sydney, Australia. He worked in the UK previously, having worked 18 years in London.
Kuzmis was most recently deputy managing director of development finance at Hampshire Trust Bank (HTB), and before that, she spent around seven years at Octopus Real Estate. Prior to that, she spent over 10 years at Mizrahi-Tefahot Bank.
Pallas Group has a loan book of £1.8bn and has completed more than 1,100 loans and other investment types worth close to £2.75bn since 2016.
Keenan said: “The UK mid-market may be crowded, but too many developers and brokers still face slow processes, shifting credit appetite and inconsistent service. Pallas is built to change that.
“We’re a well-funded and execution-driven lender, with a reputation for focusing on customer experience, and a commitment to being best in class wherever we operate.
“Our platform has delivered on this commitment in Australia and New Zealand; we see a major opportunity to bring that standard to the UK.”
Kuzmis added: “There is a clear need for platforms that can balance rigorous credit assessment with commercial agility. Pallas Capital’s track record demonstrates exactly that. I’m looking forward to shaping a credit framework that supports responsible lending while enabling developers and investors to progress high-quality projects with confidence.”
