July 21, 2023
New Managing Director Peter O’Connor to Lead Stamford Capital
Stamford Capital Australia, a leading commercial property finance business, will restructure its executive leadership team in response to sustained rapid growth of the 14-year-old brokerage and forecast expansion of Stamford Capital Investments (SCIM), its investment arm.
The restructure will see Peter O’Connor promoted from Chief Operations Officer to Managing Director. Co-founders Domenic Lo Surdo and Michael Hynes will take on new roles, focused on driving SCIM with further growth anticipated in the current market characterised by declines in leverage and lender appetite.
Mr. Lo Surdo is set to become Group Executive Chairman of Stamford Capital and SCIM. He will also remain on SCIM’s Group Risk Committee and Investment Committee. Meanwhile, Mr. Hynes will move to Group Executive Director of Stamford Capital and SCIM and remain on SCIM’s Investment Committee.
The leadership shake-up comes at a time of unprecedented growth for Stamford Capital, with the brokerage transacting $2 billion in loan volume in 2022 and 2023.
Stamford Capital’s recent and rapid growth has delivered a substantial pipeline of deal flow to its investment business, with opportunities for SCIM sourced exclusively through Stamford Capital.
Last month, SCIM launched its Core Partners Fund 3 (CPF3), the third and largest in Stamford’s successful Core Partners Fund series. Capital is currently being raised for CPF3, with a target of $50 million raised and a goal IRR of 15%.
The inaugural CPF1 was launched in 2020 with a target IRR of 13%. It raised $27.5 million of capital which was then fully deployed within 12 months, with a forecast IRR of 18%. CPF2 was launched late in 2021, raising and deploying $46.8 million with a target IRR of 11% and a forecast IRR of 13%.
Mr. O’Connor brings a wealth of knowledge to the role of Managing Director. Prior to joining Stamford Capital in 2018, O’Connor held over a decade of experience in corporate chartered accounting at firms such as KPMG.
He has played a pivotal role in shaping the company during his five-year tenure as Stamford Capital’s Chief Operations Officer and has been a driver of the business’s growth initiatives and strategy, with a strong focus on innovation and culture.
“Peter has grown alongside Stamford and is a proactive leader – he has an acute understanding of the business and its people, the industry, and most importantly the significant role that Stamford plays as the largest and most active commercial mortgage broker in Australia,” said Mr. Lo Surdo.
“He has been instrumental in building and protecting our workplace culture – no doubt our biggest and most important asset. We’re excited to see what Peter will bring to the role, the business, our clients, and broader stakeholders.”
“It’s an honour to take the reins at Stamford Capital during such an exciting time.
There is a tailwind at our backs, with the increasing rise of non-bank lenders in the space, and Stamford’s position as an industry leader,” Mr. O’Connor said.
“My focus will be to continue to build Stamford Capital, and leverage innovation to reset the benchmark for what a commercial property finance brokerage can deliver.”
Stamford Capital Australia was formed in 2010 by Domenic Lo Surdo, Michael Hynes and David Scardoni and quickly became one of Australia’s leading independent commercial property finance arrangers. It has originated over $10.3 billion of debt since its inception, with extensive capital partnerships covering the entire market – banks, non-banks and private lenders.
Stamford Capital now has offices in Sydney, Brisbane, Adelaide and Melbourne, offering clients independent and market-leading coverage of the commercial real estate capital markets.
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