Funds managed by M&G will benefit from Maslow’s specialist construction underwriting knowledge and UK-wide relationships by investing in loans managed and originated by the lender’s platform.
The lending strategy will focus on the delivery of residential, purpose-built student accommodation, build-to-rent, private residential sector, co-living, retirement living, and aparthotel developments.
Maslow’s continuing partnership with Sixth Street — a global investment business with over $47bn in assets under management — coupled with the new M&G mandate, will enable the lender to deliver more housing across the UK.
Marc Rose, chairman and co-founder of Maslow Capital, said: “This transaction is a significant milestone on the Maslow journey and adds further depth to our funding capabilities.
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“The addition of M&G as a partner will complement our existing relationship with Sixth Street, which is about to enter its sixth year.”
Ellis Sher, CEO and co-founder of Maslow Capital (pictured above), added: “We are committed to supporting UK real estate developers through the cycles, and managing long-dated capital for M&G and Sixth Street allows us to be the kind of patient, flexible, and supportive lender that borrowers need.”
William Nicoll, CIO of private and alternative assets at M&G, commented: “Access to institutional capital is essential for small- and medium-sized businesses to develop much needed housing in the UK.
“Maslow Capital has a strong track record of working with developers and this agreement should allow our pension fund and institutional clients to benefit from their expertise by way of attractive returns.”
In August, Maslow reported that it had funded over £3bn of real estate projects, delivering 11,744 new homes, to date.
The lender also launched its debut loan book liquidity fund in May, which aims to focus on opportunities from £50m-plus.