The New York-based Madison International Realty has bought the stake to form a strategic partnership, underpinning the launch of Puma’s new institutional credit fund series.

Madison managing director and head of its growth platform investment strategy, Mo Saraiya, will join the Puma board as a result.

This new partnership will enable Puma to expand its lending product range and double its maximum development loan size to £100m.

Madison will also “support the continued growth of the Puma business” in terms of recruiting industry talent, the press announcement revealed.

Puma was advised by Ashcombe Advisers LLP (corporate finance), Bryan Cave Leighton Paisner LLP (legal advice) and Deloitte LLP (financial/tax advice).

Madison was advised by Jones Day (legal advice), EY (financial/tax advice), Howden (insurance advice) and Kroll (operational due diligence).

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“We are delighted to welcome Madison International Realty as a strategic partner to our Property Finance business,” said David Kaye, founder and CEO at Puma Capital Group (pictured above, left).

“This important partnership from a highly respected institutional investor reflects and endorses our strong track record and the excellent team we have built at Puma.

“We have thoroughly enjoyed getting to know the team at Madison and believe they share the values and ambition of our Group.”

Paul Frost, managing director at Puma Property Finance (pictured above, right), added: “This partnership marks a significant milestone for our business, allowing us to access substantial additional capital at attractive pricing and providing us with the firepower to launch our first discretionary institutional debt fund.

“Crucially it means we can do even more to support UK developers at a time when demand for our lending solutions is high.”