Equity financing.
We take the equity position banks won’t and syndicators can’t deliver on. Ready-to-build schemes, institutional governance, four-week term sheets.
The gap between senior debt and sponsor equity.
European banks now lend at 55\u201365% loan-to-cost under Basel IV. Developers rarely bring more than 15\u201320% of their own equity. That leaves a 15\u201325% gap that used to be filled by mezzanine debt \u2014 a product that has thinned out as private credit has pivoted upstream.
We fill that gap with true equity, not structured debt. That means no interest burden during construction, alignment on downside as well as upside, and a capital stack that satisfies the senior lender\u2019s covenant package without layered intercreditor pain.
Our cheques are large enough to be decisive, small enough to move fast. You don\u2019t wait six months for an investment committee on the other side of the Atlantic. You get a decision from the same team that will sit on your quarterly board.
From IM to first drawdown in under 60 days.
Term sheet in 14 days
Once we receive the information memorandum and data room, we run a parallel track: market diligence, cost review, and legal structuring. You get a non-binding term sheet with pricing, carry, and milestones inside two weeks.
Luxembourg SCSp vehicle
We invest through a Luxembourg-domiciled SCSp, giving sponsors institutional governance, tax transparency, and a single investor of record. No fund-of-funds friction.
Staged draws against schedule
Equity releases against construction milestones, verified by an independent monitor. No trapped capital, no surprise calls. Carry aligned to hurdle — we make money when you do.
Quarterly reporting
Audited GAAP accounts, NAV reporting, and a sponsor-facing dashboard. SFDR Article 8 disclosure available on request.
A straight answer on fit.
- Fully permitted — no material planning risk.
- Senior debt term sheet signed or indicative pricing locked.
- GMP or fixed-price construction contract in place.
- Total project cost between €15m and €120m.
- Land assembly, rezoning, or early-stage planning.
- Residential-for-sale below €3,500/sqm achieved price.
- Sub-€15m schemes or single-unit developments.
Have a ready-to-build scheme?
Submit an information memorandum. We return serious inquiries within 24 hours.