Whole Loan

The manager, which launched its debt business in 2025, has so far lent around €270m.

The firm will provide origination, structuring and asset management services to existing investors with debt capital and lending programs in place.

Joel Tomlinson, who was the founder of Ares Management’s net-lease strategy, will work to help LNL expand its reach within the asset class.

The firm launched the evergreen fund with anchor capital from New Holland Capital.

The UK manager said it has sourced £500m of institutional funding for the strategy.

North America dominated both funds closed and funds in market.

The Lending Barometer found that about 51.3%, or $70.3bn, of loans tracked year-to-date were comprised of refinancings.

The report by Atrium identifies the growing role of private credit in the sector.

Social and political opposition is a growing risk to all stakeholders in the rapidly growing sector.

The fund will originate senior and subordinate debt across asset classes and geographies around the US.