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 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.

Bernard describes his role for the company as looking for ways to more efficiently access capital. “I was brought on to provide that extra layer on the institutional capital side and to help the company position itself to better appeal to the institutional investor with our fund management platform.”

Prior to joining the firm, Bernard was a principal at MMA Realty Capital, responsible for capital formation, fund management, and client relations. He has also held senior positions at City of Detroit, where he was the mayoral appointee for the city’s department of planning and development department, and member of the Economic Development Cabinet, and at Public Financial Management, where he was financial advisor for federal, state and local municipalities and public authorities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.