Pallas Capital
Private Credit based in Auckland, New Zealand
About Pallas Capital
Pallas Capital is a specialist financier and investment manager providing access to Commercial Real Estate (CRE) debt across Australia and New Zealand. Since 2016, they have managed A$8.4 billion in total investments with A$3.5 billion in open and performing investments across 300+ transactions. They offer wholesale investors diversified portfolios across the capital stack with varying liquidity and fixed-rate income.
Location
Auckland, New Zealand
Established
2016
10 years track record
Funds Managed (3)
Pallas PFTNZ Feeder Fund
First mortgage fund providing exposure to a securitised lending facility (Est. 2022) with a diversified and seasoned portfolio. Target return of 7.09% p.a. (7.41% net) with monthly distributions of 4.5% p.a. plus BKBM. Max weighted portfolio LVR of 62.7% with 5% first loss investment safeguard. 3 month redemption notice.
Pallas Senior Mortgage Fund
Actively managed portfolio of registered first mortgage loans covering NZ and Australian commercial real estate. Target return of 7.59% p.a. (7.91% net) with monthly distributions of 5.0% p.a. plus BKBM. Max weighted portfolio LVR of 67.5% with parent company balance sheet support ($10m aggregate buffer). 6 month redemption notice.
Pallas High Yield Mortgage Fund
First and second mortgage fund targeting higher returns. Target return of 11.28% p.a. with monthly distributions of 8.0% p.a. plus BKBM. Max weighted portfolio LVR of 75%. 12 month redemption notice.
Investment Opportunities
No Current Opportunities
Pallas Capital doesn't have any active investment opportunities at the moment. Check back later or contact them directly.
Visit WebsiteKey People (4)
Patrick Keenan
Executive Chairman
Executive Chairman
Co-founder leading strategic direction with 30+ years as lawyer, investment banker, and business owner. Former lawyer at Freehill, Hollingdale & Page; director at Dominguez Barry Samuel Montagu. Experience with Prebon Yamane Group managing 1,650 staff across 24 global offices.
30 years of experience
Dan Gallen
Executive Director & Chief Investment Officer
Chief Investment Officer
Co-founder overseeing real estate debt and equity transactions with a 20-year career completing over $4 billion in structured real estate deals. RG146 compliant with ASIC, Credit Committee member, and Responsible Manager on Pallas Funds AFSL.
20 years of experience
Charles Mellick
Executive Director
Executive Director
Co-founder responsible for current and future investments with 30 years property industry experience funding residential and commercial projects. Focus on Sydney, Melbourne, and Brisbane inner-city development with strong industry networks.
30 years of experience
Mark Spring
Executive Director
Executive Director
Co-founder growing distribution capabilities across Australia and Asia Pacific with 30+ years in international capital markets including trading and executive roles. Focuses on introducing asset managers, family offices, and sophisticated investors to opportunities.
30 years of experience
Frequently Asked Questions
How do I verify a provider is legitimate and trustworthy?
Conduct thorough due diligence before investing with any provider: (1) Check FMA Register - Verify the provider is licensed or registered with the Financial Markets Authority (www.fma.govt.nz/compliance/entities), (2) Review track record - Research past fund performance, years in operation, total funds under management, (3) Check key personnel - Research investment team backgrounds, LinkedIn profiles, previous roles and experience, (4) Request references - Ask to speak with existing investors or portfolio companies, (5) Review documentation - Read Information Memoranda, trust deeds, audited financial statements thoroughly, (6) Understand fee structures - Ensure fees are clear, reasonable, and aligned with industry norms, (7) Check for red flags - Promises of guaranteed returns, pressure to invest quickly, unlicensed operators, lack of transparency. All providers on Wholesale Investor NZ are pre-screened for legitimacy, but always conduct your own due diligence.
What questions should I ask a fund manager before investing?
Ask fund managers these critical questions: Investment Strategy - What is your investment thesis? How do you source deals? What's your competitive advantage? Track Record - What returns have you achieved historically (gross and net)? What percentage of investments succeeded vs failed? Can I speak with investors in prior funds? Team - Who makes investment decisions? What's their background? Have there been recent departures? How is the team compensated? Risk Management - What was your worst investment and what did you learn? How do you handle conflicts of interest? What's your downside protection? Fees - Explain management fees, performance fees, and all other costs? What's the hurdle rate? Process - What's the investment committee process? How often do you report? What voting rights do I have? Exit - What's the expected timeline to liquidity? Have you returned capital to investors before? Get answers in writing and verify claims independently.
What is the difference between a fund manager and a platform?
Fund Managers directly manage pooled investment capital, making investment decisions, conducting due diligence, managing portfolio companies/assets, charging management and performance fees, and carrying fiduciary duty to investors. Examples include private equity firms, credit fund managers, property developers. Platforms provide infrastructure for accessing multiple investment opportunities, do not make direct investment decisions (investors choose from offerings), may conduct initial due diligence on providers, charge platform fees or take commissions from providers, and offer comparison and research tools. Examples include investment platforms, crowdfunding sites, syndication platforms. Some hybrid models exist - platforms with house funds. When investing via platforms, you still need to evaluate the underlying fund manager's capabilities, track record, and terms as if investing directly.