Private debt activity isgrowing. While banks, institutions and the agencies are taking abulk of the pie, private lenders are filling a void for small andmid-sized operators. To find out more about this activity, what isdriving private debt and to get an outlook on private capitalactivity this year, we sat down with BrendanMiller, chief investment officer at ThorofareCapital, for an exclusive interview.
GlobeSt.com: What role is private debt play in thecapital markets today?
Brendan Miller: Private debt isfulfilling a void in the capital markets, particularly for thebenefit of smaller and mid-sized real estate operators astraditional banks have focused on servicing larger borrowingrelationships. The primary role of private debt is to providecapital to bridge a Borrower through their business plan, which caninclude a renovation, repositioning through new or activemanagement, or even a bridge to sale.
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