Silo Forges $100M Venture With Private Equity Players
Monday, May 11, 2009 : PermalinkGlobeSt.com – Locally based direct private lender Silo Financial Corp. has formed an alliance with a New York City-based private equity fund to concentrate on non-performing loans, says Silo founder Jonathan Daniel. The fund has earmarked $100 million "for opportunistic real estate lending, acquiring non-performing loans, lending against nonperforming loans and potentially even doing some strategic preferred equity," Daniel tells GlobeSt.com.
The time is ripe for such a venture, in the view of Daniel and the founders of KPO Ventures, two former partners at multi-billion-dollar hedge funds. "Obviously, the current environment is very conducive for private lending, due to the fact that there’s no capital out there," says Daniel.
Tags: 100-million, founders, jonathan, jonathan daniel, kpo, new-york-city, non performing loans, nonperforming loans, opportunistic real estate, preferred equity, private equity fund, private lender, private lending, quot, silo
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