Puma Property Finance appoints Steve Emsley as Finance Director
Steve joins from Mitheridge Capital Management, where he was Partner and Chief Financial Officer. Prior to that he spent nearly eight years as Chief Financial Officer at DRC Savills Investment Management (formerly DRC Capital), overseeing a period of substantial growth that saw the business grow AUM from £800 million to £4.5 billion and included the sale to Savills Investment Management in 2021.
A Chartered Accountant (FCA), Steve trained at BDO before moving to Federated Hermes Real Estate. He brings over 18 years of experience in real estate and fund management including corporate finance, portfolio management, tax structuring, investor relations & reporting and treasury.
Reporting into Puma’s Managing Director, Paul Frost, Steve joins at the beginning of an exciting next phase of growth for Puma. In May 2025, the business announced a strategic partnership with Madison International Realty (“Madison”), a leading real estate private equity firm headquartered in New York.
Madison made a significant cornerstone commitment to underpin the launch of Puma’s new institutional credit fund series. The commitment will enable Puma to build a seed loan portfolio for the fund of over £150 million as part of targeting an overall fundraise of £350+ million. Steve will lead the structuring, operation and investor relations for the fund, as well as taking responsibility for the overall financial stewardship of the Puma Property Finance business.
The new partnership with Madison is enabling Puma to attract the very best professional talent from the industry to join its experienced team, as evidenced by hires such as Steve. It is also broadening its range of lending products, including increasing its maximum development loan size from £50 million to £100 million and expanding its provision of standalone stabilisation loans for operational real estate assets.
Paul Frost, Managing Director of Puma Property Finance, commented:
“We’re delighted to welcome Steve to the team. His proven expertise in supporting the growth of highly successful real estate credit fund businesses will be enormously valuable as we venture into this exciting next stage for Puma. With Madison’s cornerstone commitment and our team of highly experienced lending professionals, we are well positioned to attract further institutional capital and continue to scale our business.
“We are doubling down on our capacity to deliver tailored, relationship-driven funding solutions to leading UK developers as the cost of debt reduces and market prospects continue to improve. Steve’s appointment reflects our ambition and the strength of our track record, and we’re thrilled to have him on board as we enter this next phase of growth.”
Steve Emsley, Finance Director at Puma Property Finance, added:
“This is an incredibly exciting time to be joining Puma. The recent partnership with Madison marks a significant step forward in the realisation of Puma’s institutional growth ambitions, and I’m excited to be coming on board to help implement that strategy. With its strong proven track record, Puma is perfectly positioned to attract further institutional investors and continue to scale its position in the market.”