Bridging and development lender with £1.8bn loan book launches in the UK
12 January 2026
Uliana Kuzmis and Mark Witherington among the impressive team assembled by Pallas Capital
Pallas Capital, a leading non-bank lender specialising in mid-market real estate funding, today announces the launch of Pallas Capital in the UK, marking a significant expansion of the firm’s international footprint.
The launch builds on the strength of the Pallas Group, which manages a loan book of £1.8 billion and has completed more than 1,100 loans and other investment types worth close to £2.75 billion since 2016.
The Group has established a strong reputation for disciplined credit underwriting, deep real estate expertise and consistent performance across market cycles.
Its outstanding track record has allowed the Group to secure over £1bn of institutional capital, including major funding lines currently with Goldman Sachs, Morgan Stanley, National Australia Bank and Westpac Limited.
Pallas Capital’s product range in the UK spans residential, mixed-use and commercial bridging, development exit, light and heavy refurbishment, vacant land and development finance.
This offering is designed to support borrowers at every stage of the property lifecycle, including acquisition, development, refinancing and transitional assets—with an emphasis on speed, certainty of execution and tailored structuring.
The UK business is led by a highly experienced team with a proven track record in real estate finance:
- Ben Keenan, Executive Director
- Uliana Kuzmis, Chief Credit Officer
- Mark Witherington, Senior Originator
- Anna Thompson, Originator
- Jamie Peacham, Underwriter
- Nicoleta Iorgu, Underwriter
- Chris Adams, Underwriter
Further exciting additions to the team will be announced in the coming weeks.
Executive Director Ben Keenan—who brings 24 years of legal and commercial experience across real estate and structured finance— returns to London where he previously spent 18 years living and working in the city.
During that time, he served as General Counsel and an executive board member of a global tier one contractor, giving him deep local insight into the UK development landscape.
Ben has relocated from Pallas Capital’s Australian headquarters to lead the establishment of the company’s UK presence.
Commenting on the launch, Ben Keenan said:
“The UK mid-market may be crowded, but too many developers and brokers still face slow processes, shifting credit appetite and inconsistent service. Pallas is built to change that.
“We’re a well-funded and execution driven lender, with a reputation for focussing on customer experience, and a commitment to being best in class wherever we operate.
“Our platform has delivered on this commitment in Australia and New Zealand; we see a major opportunity to bring that standard to the UK.”
Uliana Kuzmis brings over 20 years of expertise in underwriting, credit risk, and transformational leadership.
As former Deputy Managing Director at Hampshire Trust Bank, she spearheaded a division-wide restructuring that doubled credit approvals and earned multiple industry awards, including Best Development Finance Provider in 2023 and 2024.
At Pallas, she continues to drive innovation, deliver strategic guidance, and champion excellence across the industry, while being recognised as a thought leader and keynote speaker at major finance events.
Uliana comments:
“There is a clear need for platforms that can balance rigorous credit assessment with commercial agility. Pallas Capital’s track record demonstrates exactly that. I’m looking forward to shaping a credit framework that supports responsible lending while enabling developers and investors to progress high-quality projects with confidence.”
Pallas Capital launches in the UK with significant funding already in place: a forward flow agreement locked in with a major US credit fund; a securitised warehouse with a Wall Street investment bank close to completion; and substantial Australian high-net-worth capital available for deployment.
With the support of the wider Pallas Group, the UK platform benefits from institutionally supported infrastructure, robust risk management and a long-term approach to capital deployment. The launch reinforces Pallas Capital’s commitment to building enduring lending partnerships and delivering attractive risk-adjusted returns for investors.
For more information, visit www.pallascapital.co.uk.
