The platform will target loan sizes between £20 million and £75 million

KKR and Puma Property Finance have formed a strategic joint venture that could provide up to £500 million in lending for residential development projects across the UK.

The partnership will focus on senior development and stabilisation loans supporting schemes in the living sector, including build-to-rent, build-to-sell and purpose-built student accommodation. The platform will target loan sizes between £20 million and £75 million.

Both firms say the initiative aims to increase access to capital for experienced developers delivering projects in housing markets where supply remains tight.

The venture combines Puma’s established lending platform with KKR’s global credit capabilities and structuring expertise. A major international bank will support the platform through a senior credit facility.

Structured as a three-year forward-flow partnership, the programme will concentrate on funding projects in the UK living sector where institutional capital continues to play a growing role.

Through the new partnership, Puma expects to expand its lending capacity in the £20 million -plus segment, where demand for funding continues to exceed available supply.

Anirban Ghosh, managing director at KKR, said the venture will support developers delivering new homes across the country.

We are pleased to work with Puma Property Finance to scale access to institutional capital in the UK residential development market, said Anirban Ghosh, managing director. We believe this platform is well positioned to support experienced developers delivering much-needed housing across the country, combining Puma’s local expertise and origination capabilities with KKR’s global credit platform and disciplined underwriting approach.

Puma’s development lending team will source, underwrite and manage loans for the joint venture, while KKR’s global credit platform will provide capital, structuring support and investment committee oversight.

The partnership follows a period of expansion for Puma Property Finance. Over the past year the lender passed the £2 billion mark for loans issued and launched the first close of the Puma Real Estate Secured Credit Fund.