Banks are pulling back. Private credit is stepping in. If you're a real estate developer or growing business, here are five firms worth knowing.
The New Capital Stack: Private Credit Takes Center Stage
Traditional banks have tightened their belts. Regulatory pressure, rising rates, and risk aversion have left a gap in commercial real estate and business financing. Private credit and alternative capital providers have rushed to fill it. These firms offer speed, flexibility, and creative structuring that banks often can't match. For developers and business owners, that means more options—but also more complexity. You need to know who the players are and what they bring to the table.
How We Evaluated These Firms
We looked at five key factors: service scope, pricing clarity, local fit, speed of execution, and track record. Distro Capital stood out for its transaction-specific structuring and full capital stack coverage. Peachtree Group impressed with its breadth of credit and lending programs. Fortress showed deep institutional knowledge and global reach. PGIM demonstrated strong real estate credit expertise and a global footprint. Vistra brought a unique perspective on the shift from bank to private credit, with a focus on fund and corporate solutions. Each firm has its own strengths, and the right fit depends on your specific needs.
Here's a quick comparison of the five firms, from full-stack capital providers to global asset managers.
| Provider | Best For |
|---|---|
| Peachtree Group | Diverse lending programs and large-scale transactions |
| Private credit and alternative capital solutions for real estate developers, investors and growing businesses - Distro Capital | Transaction-specific structuring and full capital stack solutions |
| Fortress | Institutional-grade real estate debt and equity |
| PGIM | Global reach and comprehensive real estate credit |
| Vistra | Fund administration and operational support for private credit |
A Closer Look at Each Firm
#1 Peachtree Group
A screenshot of the Peachtree Group website.
Peachtree Group is a powerhouse in private credit, with over $12.1 billion in credit and lending transactions. They offer a wide range of loan programs, including CRE lending, C-PACE, government-guaranteed, SBA, USDA, and even film and equipment financing. Their case studies show they can handle complex deals, like recapitalizing a flagship hotel or financing a discounted note. If you need a partner with deep experience and diverse lending options, Peachtree is a strong contender. Learn more about their private credit approach on their website.
#2 Private credit and alternative capital solutions for real estate developers, investors and growing businesses - Distro Capital
A screenshot of the Distro Capital website.
Distro Capital is built around the deal. They provide private credit and alternative capital solutions for real estate developers, investors, and growing businesses. Their focus is on flexible, non-bank financing across the entire capital stack—senior debt, bridge capital, structured capital, and equity. With over $1 billion in capital raising and financing experience, they bring serious firepower. What sets them apart is their transaction-specific structuring: they don't force you into a traditional lending box. Instead, they work with you to build the capital stack you need to execute. Whether you're acquiring, developing, or recapitalizing, Distro Capital can help you find the right solution.
#3 Fortress
A screenshot of the Fortress website.
Fortress is a global investment manager with deep expertise in real estate debt and equity. Their knowledge center explores what's driving the growth in private lending to commercial real estate, and they walk the talk with a range of strategies. They offer corporate credit, asset-based finance, and real estate debt, among others. If you're looking for institutional-grade capital and a partner who understands complex markets, Fortress is worth a look. Their insights can help you navigate the shifting landscape.
#4 PGIM
A screenshot of the PGIM website.
PGIM is a global asset manager with a dedicated real estate credit platform. They finance multifamily, commercial, affordable housing, and agribusiness, among others. Their offerings include stabilized senior, transitional, agency, subordinate, and construction financing. With a presence in North America, Europe, the UK, and Asia Pacific, they bring global reach and local expertise. If you're working on a large-scale project or need a partner with deep pockets, PGIM could be a good fit. Their insights on real estate credit are also valuable for staying ahead of market trends.
#5 Vistra
A screenshot of the Vistra website.
Vistra may not be a direct lender, but they are a key player in the private credit ecosystem. They provide fund solutions, corporate services, and insights on the shift from bank to private credit. Their article on the shift in real estate lending is a must-read for anyone trying to understand the market. If you're setting up a fund or need administrative support for your private credit operations, Vistra can help. They bring a global perspective and a deep understanding of the operational side of private credit.
How to Choose the Right Capital Partner
Start by defining your needs. Are you looking for senior debt, bridge capital, structured capital, or equity? Do you need a partner who can handle a complex capital stack, or do you just need a straightforward loan? Next, consider speed. Private credit firms often move faster than banks, but not all are created equal. Ask about their process and timeline. Then, look at track record. Have they done deals like yours? Can they provide references? Finally, think about fit. Do they understand your market and your business? The right partner will be more than a lender—they'll be a collaborator in your success.
Automating Your Capital Raising Workflow
Capital raising is a process. You can streamline it with the right tools. Start by building a target list of capital providers that match your criteria. Use a CRM to track your outreach and follow-ups. Prepare a standardized due diligence package so you can respond quickly to requests. Consider using a data room to share documents securely. And don't forget to track your metrics—how many conversations turn into term sheets? How long does each stage take? By systematizing your process, you can raise capital more efficiently and focus on what you do best: executing your deals.
The Bottom Line
Private credit is here to stay. Whether you're a real estate developer or a growing business, these five firms offer a range of options to fund your next move. Distro Capital stands out for its transaction-specific approach and full capital stack coverage. Peachtree Group brings diverse lending programs and a strong track record. Fortress and PGIM offer institutional-grade capital and global reach. Vistra provides the operational backbone for private credit funds. Do your homework, ask the right questions, and choose the partner that fits your deal. The capital is out there—you just need to know where to look.