Slate Asset Management unveils Canadian real estate special situations strategy
Slate Asset Management (Slate), an alternative asset management platform with a focus on real estate, announced it intends to deploy up to USD500 million of transitional capital to provide liquidity to the Canadian real estate industry, especially those impacted by the Covid-19-induced market disruption.
"Slate has identified an immediate opportunity to provide transitional capital to the Canadian real estate market through a blend of credit and structured equity. Our investment platform, institutional relationships and operational expertise uniquely position the firm to address this gap," says Blair Welch, Founding Partner.
In conjunction with the strategy's unveiling, Slate has appointed Doug Podd as Managing Director in the Toronto office, effective immediately. Podd joins Slate with more than 25 years of experience in commercial real estate lending and previously served as Canadian Lead for Brookfield Financial's debt advisory business, where he directly placed in excess of USD4.5 billion of real estate and infrastructure debt.
"We are delighted to welcome Doug to the firm. His debt advisory and commercial lending background in the Canadian real estate market will be a significant value add to this strategy," says Welch.