COMMERCIAL property finance business Stamford Capital Australia is restructuring its executive leadership team following a period rapid growth and expected expansion of its investment arm.
The restructure will see Peter O’Connor promoted from chief operations officer to managing director. Co-founders Domenic Lo Surdo and Michael Hynes will take on new roles, focused on driving the investment arm, Stamford Capital Investments (SCIM), with further growth anticipated in the current market characterised by declines in leverage and lender appetite.
Lo Surdo will become group executive chairman of Stamford Capital and SCIM, and remain on SCIM’s group risk committee and investment committee. Hynes will move to group executive director of Stamford Capital and SCIM and remain on SCIM’s investment committee.
The 14-year-old brokerage has experienced a growth spurt, transacting $2 billion in loan volume in 2022 and 2023.
Last month, SCIM launched its Core Partners Fund 3 (CPF3), the third and largest in Stamford’s Core Partners Fund series. Capital is currently being raised for CPF3, with a target of $75 million raised and a goal IRR of 15%.
The inaugural CPF1 was launched in 2020 with a target IRR of 13%. It raised $27.5 million of capital which was then fully deployed within 12 months, with a forecast IRR of 18%. CPF2 was launched late in 2021, raising and deploying $46.8 million with a target IRR of 11% and a forecast IRR of 13%.
Prior to joining Stamford Capital in 2018, O’Connor had over a decade of experience in corporate chartered accounting at firms such as KPMG.
“Peter has grown alongside Stamford and is a proactive leader – he has an acute understanding of the business and its people, the industry, and most importantly the significant role that Stamford plays as the largest and most active commercial mortgage broker in Australia,” Lo Surdo said.
“He has been instrumental in building and protecting our workplace culture – no doubt our biggest and most important asset. We’re excited to see what Peter will bring to the role, the business, our clients, and broader stakeholders.”
“It’s an honour to take the reins at Stamford Capital during such an exciting time.
There is a tailwind at our backs, with the increasing rise of non-bank lenders in the space, and Stamford’s position as an industry leader,” Mr. O’Connor said.
Stamford Capital Australia was formed in 2010 by Lo Surdo, Hynes and David Scardoni. It has originated over $10.3 billion of debt since its inception, with capital partnerships covering banks, non-banks and private lenders. It has offices in Sydney, Brisbane, Adelaide and Melbourne.
