Cheyne Capital

We are pleased to have provided a €41 million loan to Lone Star Funds to finance part of the restoration and redevelopment of the iconic Hotel Métropole in Brussels into a premier lifestyle destination. The renovation will include the addition of premium amenities, such as an indoor swimming pool, a fitness room and the much-anticipated reopening of the prestigious Café Métropole. We continue to have strong conviction and appetite for the European hotel market, as recent performance demonstrates both its resilience and growth. This project demonstrates best practices in repositioning an old, energy-inefficient building to the latest environmental standards, whilst preserving historic features. It also underscores Cheyne's commitment to financing sustainable real estate projects while accompanying leading sponsors such as Lone Star with whom this is our third transaction over the last few years. https://lnkd.in/esC5s6m6

Stuart Fiertz is set to lead a discussion at the Standards Board for Alternative Investments (SBAI) Alternative & Private Credit Roundtable in Sydney tomorrow, March 19th. Alongside industry experts Duane Perera, Zachary Farmer, CFA, CAIA and Robert Graham-Smith, Stuart will explore key topics in the private credit space, including emerging trends, potential risks and challenges, and the latest regulatory changes or structural innovations. This roundtable promises to be a dynamic conversation on what is currently relevant in private credit. #sbai #alternativeinvestments #alternativecredit #privatecredit

Thank you Real Estate Capital Europe for naming Cheyne Capital the Alternative Lender of the Year : UK and Residential Lender of the Year : Europe for 2024. Our lending in 2024 included the redevelopment of 65 Fleet Street from office to student accommodation and two further loans to Dominus for student (PBSA) schemes totalling £400 million; £525 million to Fattal Hotels to refinance four well-performing hotels; and £143 million to Riverstone for a third later living development together; as well as a senior loan to Cedarstone Capital Partners to support the thoughtful vision to enhance the Vauxhall, Nine Elms and Battersea (VNEB) Opportunity Area and develop a multi-purpose site which will benefit the whole community. #realestatedebt #realestatecredit

We're thrilled to be named Private Debt Investor's Real Estate Debt Manager of the Year: Europe for the second year in a row. Across 2023 and 2024, we lent nearly £4 billion to help the European real estate industry transition towards productive assets for the long term, and we look forward to another year of strong deployment in 2025. #realestatedebt #realestatecredit

Huge congratulations to Carl Tohme and the Cheyne EMEA Equity team on their well-deserved win at the With Intelligence EuroHedge Awards last night. Cheyne EMEA was named Emerging Market Equity Manager of the Year with a 2024 performance of 13.1% and a net annualised return of 9.3% since inception in 2008 compared to just 0.7% for the MSCI EMEA index. #eurohedge #emergingmarkets #emea #equities

Carl Tohme, Cheyne's EMEA Equity Portfolio Manager, recently spoke to Bloomberg about the reasons behind his strategy's return of +13.1% last year and net annualised return of +9.3% since inception in 2008 versus just +0.7% for the MSCI EMEA index over the same period (to end-2024). Read the full article here 👉 https://lnkd.in/eYuvJQHq #emea #mena #equities

Stuart Fiertz hugely enjoyed Navigating the Future of Private Credit at a packed event co-hosted by Cheyne Capital and CAIA Association along with expert panellists: 🎤 Jack Edwards, Head of Structured Credit & Alternatives at Phoenix Group, 🎤 Matthieu Le Bret, FRM, CAIA, Managing Director & Global Head, Structured Credit Distribution at NORD/LB, and 🎤 Elena Koycheva, CFA, CAIA, CIPM who was an excellent moderator Stuart set the scene of European banks' longstanding focus on de-risking since 2008 and the opportunity that presents for private credit specialists with an established, local presence to lend into the consequent funding gap. Europe's desperate lack of risk-taking capital was illustrated with some fascinating statistics, including: 👉 47% of household financial holdings being in liquid and guaranteed life insurance funds versus just 14% in the US 👉 40% productivity gap between Europe and the US 👉 $54 trillion equity market in the US versus $8 trillion in Europe, despite a 15% larger GDP 👉 99% less investment in venture capital by European pension funds than US pension funds The panel then proceeded to discuss less crowded areas of opportunity in European Private Credit, including: ⭐ Real Estate Lending ⭐ Non-Sponsored Lending ⭐ Stressed Situations ⭐ Significant Risk Transfer Many thanks to all who attended and made it such a productive and interactive event. #CAIALondon #privatecredit #privatedebt #realestatedebt #nonsponsoredlending #sponsorlesslending #significantrisktransfer #srt

Frank Benhamou, risk transfer portfolio manager at Cheyne Capital, very much enjoyed joining Paul Horvath, CEO of Orchard Global in a masterclass on Significant Risk Transfer (#SRT) at the Alternative Credit Council Private Credit Investor Forum in Miami. With both Cheyne and Orchard having been early investors in SRT - and Frank playing a leadership role in the SRT platform at Barclays - they were able to dive deeply into the evolution of the SRT market; the motivations for banks and investors to enter into SRT transactions; and the market outlook. #significantrisktransfer #risktransfer #risksharing #creditrisksharing #crt

Cheyne Impact Real Estate is proud to announce the completion of Sandstone Brook in Shropshire, Cheyne's second state-of-the-art care home in partnership with Liberty Care Developments and with Anavo providing the highest quality care. With 35% of the rooms allocated to publicly-funded residents at significantly reduced rates, Sandstone Brook continues Cheyne Impact Real Estate's thesis of making high quality and tenure blind accommodation available to everyone. #impactinvesting #pbii #affordablehousing #affordablecare

Duncan Sankey enjoyed presenting on "Private Credit...But Not As You Know It" at SG Pensions Enterprise's excellent Private Markets Pensions Investment Forum. Duncan discussed Significant Risk Transfers (SRTs), formerly known as Regulatory Capital transactions, which allow banks to buy credit protection on loan portfolios in order to release regulatory capital. The loans remain on the banks’ balance sheets, providing an alignment of interest and giving investors exposure to loans they would not otherwise be able to access since these are the loans that the banks want to retain. SRT strategies offer attractive returns to investors with considerable downside robustness, low volatility, low correlation to other asset classes and highly predictable cashflows. Duncan also discussed how a version referencing UK SME loan portfolios could release capital for UK banks to increase their UK lending. This would facilitate an attractive multiplier effect for credit transmission to the UK economy. #ukproductivefinance #srt #crt #significantrisktransfer #risktransfer #creditrisksharing #privatecredit #privatedebt