Development finance provider Hilltop Credit Partners has appointed Claudiu Gheorghita as its chief investment officer (CIO) with a mandate to build its loan book across the UK and support its expansion into Europe.
Gheorghita (pictured) joins from Nomura, where he was director in its real estate and securitised products division for three years. There he covered all asset classes in European countries and oversaw its principal finance business. Before this, Gheorghita worked at Macquarie where he was responsible for originating and underwriting debt and equity real estate transactions across UK and mainland Europe.
Gheorghita’s appointment at Hilltop is expected to strengthen its investment management platform and make use of its loan underwriting platform, Hilltop Credit Stream, to capitalise on real estate finance opportunities across the UK and Europe over the next year.
The platform launched in August last year and generated over £1bn of SME residential development loan applications during its first four months. It is expected to complete over £4bn in loans this year.
Hilltop wants to resolve the practice of multiple lenders funding small or medium-sized developers by providing a single solution which can cover their entire financing needs.
Gheorghita said: “I’m joining Hilltop with a clear objective of expanding the business operations across asset classes and gradually developing the platform across Europe. Supporting housing delivery remains a key focus of our business, and I am looking forward to providing liquidity to competent developers in locations with strong fundamentals.
“Due to the current market conditions caused by the shift in interest rates and geopolitical factors, we see an immediate need for flexible capital that can facilitate the start of new developments or that can help stabilise and complete existing ones.”
Paul Oberschneider, CEO of Hilltop Credit Partners, added: “Claudiu’s investment experience in structuring, negotiating and underwriting real estate transactions will help Hilltop respond to increasing demand for high-quality non-bank lenders as viable alternatives to traditional banks. He will have a particular focus on expanding our credit offering across asset classes and geographies, leveraging our tech-enabled platform, Hilltop Credit Stream, to underwrite loans quickly and efficiently.
“Claudiu’s experience makes him the ideal person to deliver our vision and strategy. I am thrilled to welcome him to our growing team.”
Shekina is the commercial editor at Mortgage Solutions. She has over four years’ experience in the B2B publishing market, with previous industries including the accounting, pet, funeral, hospitality, retail and jewellery trades.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
