Specialist non-bank lender Pallas Capital has announced two strategic senior appointments to bolster its institutional-grade credit and specialist risk platform: Alexis Holloway has been promoted to Executive Director – Credit, and Royston Toh has joined as Head of Construction Risk.
These leadership changes underscore Pallas Capital’s position as a leading non-bank lender in Australia and New Zealand, and its commitment to meeting the growing demand for mid‑market commercial real estate (CRE) debt.
These appointments come as the firm sharpens its focus on construction lending, now its largest loan category — accounting for about 35% of its $3.4 billion loan book. With strong momentum expected in 2026, Pallas Capital is well positioned to capture growth across the mid-market CRE sector.
Holloway’s promotion reflects his pivotal role in scaling the firm’s credit function and driving portfolio growth. Since joining five years ago, he has expanded the credit team from six to over 40 professionals, during which time the active portfolio has grown from $400 million to $3.4 billion. As a Chair of the Group Investment Committee, he continues to uphold the firm’s highest standards of underwriting and portfolio management.
“I’m proud to have contributed to our significant growth in recent years,” said Holloway. “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 brings over a decade of experience in construction risk, most recently at MaxCap, and is widely respected across the industry. His appointment strengthens a function already central to Pallas Capital’s platform and will be critical as the firm expands its construction lending footprint.
“Pallas Capital already has a strong construction risk team, and I am pleased to build on that foundation,” said Toh. “My focus will be on enhancing our systems and supporting the team to deliver outcomes for our clients and investors.”
These appointments align with Pallas Capital’s broader strategy to deliver institutional‑grade capabilities in mid‑market lending, specialising in loans between $5 million and $50 million. In 2025, the firm originated over $2.5 billion in new loans and recorded more than $1.2 billion in repaid principal, highlighting the strength and maturity of its platform.
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Disclaimer: General information only. Pallas Capital’s lending activities are limited to writing loans for business and/or investment purposes only. The consumer credit protections in the National Credit Code do not apply.