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Silo Forges $100M Venture With Private Equity Players

STAMFORD, CT-Opportunities in non-performing loans will be the focal point of the alliance between private lender Silo and New York City-based KPO Ventures.

By Paul Bubny | Updated on May 10, 2009

STAMFORD, CT-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.

Concurrently, KPO’s principals “believe very strongly in the opportunity for real estate lending–acquiring distressed notes, lending on distressed notes, etc.,” he says. “They have put up a lot of their own capital and have another consortium of capital along with theirs to go out and do deals like this. So they’ve earmarked $100 million to get going and see what we can do.”

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