Move comes as lender eyes further growth in mid-market lending
Specialist non-bank lender Pallas Capital has announced two senior leadership appointments aimed at expanding its institutional-grade credit and construction risk management capabilities across Australia and New Zealand.
The firm has promoted Alexis Holloway (pictured, left) to executive director – credit and appointed Royston Toh (pictured, right) as head of construction risk, as it continues to focus on mid-market commercial real estate (CRE) debt and construction lending, according to a news release.
Pallas Capital noted that it is sharpening its focus on construction finance, which now accounts for about 35% of its $3.4 billion loan book. With expectations of continued growth in 2026, the lender said it is well positioned to capture increasing demand across the CRE sector.
Holloway’s promotion comes in recognition of his contributions to the firm’s credit expansion. Since joining Pallas Capital five years ago, he has grown the credit team from six to more than 40 professionals, supporting portfolio growth from $400 million to $3.4 billion, according to Pallas Capital. Holloway continues to oversee the firm’s underwriting and portfolio management standards as chair of the group investment committee.
“I’m proud to have contributed to our significant growth in recent years,” Holloway said. “This promotion is about maintaining the discipline and consistency that define the Pallas Capital DNA. Bringing in a market leader like Royston to head our construction risk function is a natural extension of our strategy to deepen capabilities and seize opportunities ahead.”
Toh joins Pallas Capital with more than a decade of experience in construction risk, most recently serving at MaxCap. The company highlighted his expertise in managing complex project exposures and ensuring robust risk oversight in dynamic market conditions.
“Pallas Capital already has a strong construction risk team, and I am pleased to build on that foundation,” Toh said. “My focus will be on enhancing our systems and supporting the team to deliver outcomes for our clients and investors.”
According to the news release, the appointments align with Pallas Capital’s broader strategy to deliver institutional-grade lending solutions across the mid-market segment, specialising in loans ranging from $5 million to $50 million. In 2025, the firm originated over $2.5 billion in new loans and recorded more than $1.2 billion in repaid principal.
