This UK Lender Has Never Raised a Fund in 40 Years

I met a UK lender who's never raised a fund.

In 40 years, they've taken no outside capital.

It's a family-owned real estate platform; everything they lend is on their balance sheet. No LPs, no fund structure, no one to answer to but themselves.

That makes them quick and efficient.

- Self-funded balance sheet lender
- There are no external LPs
- Senior debt preferred 
- $5M-$60M tickets
- LTV 65-70%
- Mezzanine + JV equity optional

They won't do any ground-up development, but will do refurbs and conversions. Can close in 2-3 weeks.

I asked what's on the books right now.

A £10M loan against a farm in Scotland. A £25M loan against a house on one of London's most expensive squares. A £14M loan against an office block.

So, they're active with different asset classes.

Do you prefer borrowing from a family or a fund?