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In Private Debt Investor’s Mid-Market Lending Report, Ellis Sher, Head of Lending at Arrow Global and Chief Executive Officer of Maslow Capital, explains why Europe’s mid-market real estate lending market is mature but far from commoditised. He argues that strategic differentiation continues to drive returns, particularly for lenders with permanent capital, underwriting depth and certainty of execution. He highlights the importance of selectivity across living subsectors, the growing value of structured and non-bank capital solutions, and the resilience required to navigate continued geopolitical and market volatility. For institutional investors, the interview underlines why specialist platforms remain well placed to capture attractive opportunities across European private credit.
“Many lenders advertise funding, but what always matters most is the ability to deliver with consistency and conviction.”
“That has undoubtedly made the market more challenging, but it has also made specialist underwriting more valuable.”
“That does not remove the challenges, but it does mean experienced market participants are better placed to respond, identify resilient opportunities and structure conservatively through periods of uncertainty.”
Read the full article here
Ellis Sher
Head of Lending
After qualifying as a Chartered Accountant, Ellis embarked on a career in banking and finance focusing on speciality credit, covering a wide range of asset classes including tax arbitrage, consumer credit and property finance.
Ellis enjoyed a successful career at Investec where he worked for 7 years and was part of the establishment of the bank’s private client structured finance business. In 2005 he left Investec to pursue the acquisition of a specialist mortgage provider known as Cheval Property Finance PLC where he held the position of Managing Director until February 2009. In March 2009, he co-founded Maslow, a specialist property lending business which is now part of the Arrow Group.