BETHESDA, MD-Walker & Dunlop has brought on board Paul Bernard as SVP in the Principal Investment Group to lead the group’s client relations efforts and help broaden its fund management platform. One of his first assignments will be to raise capital and structure a new $100 million-to-$150 million structured debt fund that will focus on mezzanine lending. He tells GlobeSt.com that this fund will likely be launched within the next few months as the company wants to go to market with it “sooner rather than later.”

It has not yet been determined whether this new fund, which is an offshoot of an earlier fund the company developed with Fannie Mae in 2004, will use leverage to extend its purchasing power, he says. “We are still having those discussions now.” Much depends on the type of investor that buys into the fund – for instance, public pension funds have certain investment requirements about leverage. If the fund were to use leverage, Bernard says, it wouldn’t be more than 50% to 60%. “I have always practiced fairly conservative leverage throughout my career.” The company is also planning to launch a series of equity funds late next year, he adds.

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