This article appeared in the Australian Financial Review on 30 September 2022 written by Anthony Macdonald, Sarah Thompson and Kanika Sood.

Mid-market private debt boutique Bowery Capital has hired three directors and rule off a $21 million residential debt deal.

Bowery, which primarily writes cheques for property developers, recently added Steve Kyriazis, Sal Materia and Alan Poole to its team.

Kyriazis has worked as a private banker at Westpac, specialising in originating credit deals. He left the bank to start a debt advisory of his own. He’s brought in Bowery’s latest deal – providing $21 million debt of the $30 million total value of three luxury townhouses in East Melbourne.

Materia’s worked with high-net-worth investors and family offices at ANZ Bank, Macquarie and Westpac Private.

Poole was Westpac Private Wealth’s general manager for NSW and Queensland, where he focused on debt origination and property risk management.

Bowery had $200 million odd invested in debt deals on behalf of investors.