Financing the housing crisis
Contributing to a PDI feature, ‘Financing the housing crisis’, Ellis Sher, chief executive of Maslow Capital, Arrow Global’s real estate financing business, emphasises the critical role of private debt in addressing housing shortages across Europe.
“At a macrolevel, the opportunity set is driven by growing demand for housing. People are living longer, the housing stock is ageing, energy regulations are becoming stricter, and household formation is increasing, largely because people are getting married later or not at all.”
“For private credit, this is a train that has been running for some time – we have been doing this for 15 years. The challenge for mangers is that scaling private credit requires significant time and working capital. By its nature, private credit is a fishing expedition. To find opportunities, you need a large team originating deals from multiple sources, and you must delve deeply into the underwriting process.”
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Ellis Sher
Managing Director, Arrow Lending Opportunities
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.