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Postern Fund Management
Postern Fund Management was established in London by Amir Naftali and Ronen Schwartz, two credit specialists whose collaboration dates to their years on...
Postern Fund Management
Postern Fund Management was established in London by Amir Naftali and Ronen Schwartz, two credit specialists whose collaboration dates to their years on the distressed-debt and real estate desks at Lehman Brothers and, subsequently, as portfolio managers at Marathon Asset Management. The firm reflects that lineage — a credit-first operation grounded in asset-level underwriting and structured solutions rather than index-level exposure. The firm deploys capital across three principal silos: real estate debt, specialty finance, and structured credit. Real estate mandates include senior and mezzanine lending against income-producing commercial and residential assets, most actively in London and core UK cities. Specialty finance covers asset-backed lending, litigation finance, and trade receivables. Structured credit work targets dislocation in corporate debt, often through secondary loan purchases and bespoke capital-relief trades. Known transactions include a £28 million bridge facility for a London office-to-resi conversion and a structured preferred equity injection into a Midlands logistics portfolio (per CoStar, 2023). As of early 2026, the team operates from a single London office. Deployment is executed through closed-end drawdown funds, with the strategy marketed to European family offices and institutional limited partners seeking yield uncorrelated to public credit beta. The firm's philanthropic adjacency is modest; there is no separately named foundation. In September 2023, Postern closed its second real estate credit fund at approximately £150 million, oversubscribed from a £125 million target (per the firm's official communications). Postern's structural difference lies in its credit-committee architecture. All investment decisions require unanimous consent from Naftali and Schwartz — a governance feature that suppresses velocity in favor of deep diligence. The firm does not compete for broadly syndicated loan mandates, instead sourcing through a proprietary network of regional brokers, restructuring advisors, and developer relationships built across two cycles of UK real estate distress.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Amir Naftali
Chief Investment Officer
Ronen Schwartz
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Postern Fund Management?
Amir Naftali (Chief Investment Officer) and Ronen Schwartz (Chief Executive Officer) share investment authority. The credit committee requires unanimous consent from both for any deployment, a governance model designed to enforce joint conviction and eliminate single-decision risk. Both have been executing credit and real estate transactions together since their time at Lehman Brothers, giving the partnership a track record that predates the firm.
What does Postern Fund Management actually invest in?
The firm allocates across three verticals: real estate debt (senior and mezzanine lending against commercial and residential property in the UK), specialty finance (asset-backed loans, litigation funding, trade receivables), and structured credit (secondary loan purchases and capital-relief trades). It does not make equity venture bets or run a generalist credit fund — the mandate is deliberately narrow and asset-secured.
How does Postern source its deals?
Postern does not rely on auction processes or broad syndications. The principals draw on a two-decade network of regional property brokers, turnaround advisors, and developer relationships in the UK and Western Europe. Many transactions are bilateral — originated through repeat interactions with borrowers who value certainty of execution over the lowest coupon.
Is Postern structured as a family office or an asset manager?
Postern operates as a regulated asset manager, raising capital through closed-end commingled funds marketed to family offices, institutions, and, to a lesser extent, high-net-worth individuals. It is not a single-family office, though the tight governance and concentrated portfolio management give it the operating cadence of one.
What is Postern's geographic focus?
Postern concentrates overwhelmingly on the United Kingdom, with London and the South East representing the bulk of real estate debt exposure. The firm selectively evaluates structured-credit opportunities in Ireland, the Netherlands, and Germany when deal flow aligns with its underwriting standards, but does not maintain a permanent continental presence.
What is the connection between Postern Fund Management and Marathon Asset Management?
Amir Naftali and Ronen Schwartz are former portfolio managers at Marathon Asset Management, where they ran credit and real estate strategies before founding Postern. Marathon remains a separate entity with no ownership link to Postern. The relationship is alumni-based — both firms operate independently in the London credit market.
What is Postern's known posture on co-investments?
Postern accommodates co-investment requests from existing limited partners on a deal-by-deal basis, primarily in the real estate and specialty finance verticals. The firm does not operate a formal co-invest club or sidecar vehicle. Co-investors participate on the same economic terms as the fund, with Postern retaining full governance rights over the asset.
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