PrimaryReal Estate
Target 30–40% · Range 25–45%
8–16%+ yield
- Senior debt · first-lien mortgage
- Mezzanine + equity kicker
- Preferred equity · 8% pref + 15% profit share
Principal-led capital deployment across real estate, infrastructure, energy, and opportunistic private credit. Every investment a deliberate, accountable decision made at the principal level.

PrimaryTarget 30–40% · Range 25–45%
8–16%+ yield
CoreTarget 25–35% · Range 20–40%
7–11% yield
CoreTarget 10–20% · Range 5–25%
Reserve-based pricing
OpportunisticTarget 5–15% · Range 0–20%
Flexible structure
Three principles that distinguish every investment we make and define how we operate on behalf of our limited partners.
The person who sources the deal structures it, monitors it, and is accountable for it. No delegation to junior associates. Maximum 15–20 active relationships. Every investment is a principal-level decision from origination to exit.
Every investment requires an identifiable, valued, and enforceable security package before IC consideration. Hard-asset collateral is a prerequisite, not a preference. Pre-revenue without hard assets is an absolute decline under the Governance Doctrine.
Every fee, every condition disclosed in writing before any commitment. Form ADV, PPM, LPA, and every term sheet are internally consistent. No exceptions, no side arrangements, no oral agreements that override written terms.
Every transaction passes Intake, Preliminary Review, and Full Diligence before Investment Committee consideration. No exceptions to the sequence.
Continue→Majority IC for $1M–$20M. Unanimous IC + 48-hour LP Advisory Committee notice for $20M–$50M. Key Person clauses defined and enforceable.
Continue→All submissions reviewed personally. Qualified projects receive a response within five business days. Complete the 6-question pre-screen before the full application.