Former Perella Weinberg Partners and Deloitte Corporate Finance bankers have launched a transatlantic advisor targeting complex debt and hybrid capital transactions, including infrastructure financings.

Streif Capital Partners launched 5 June, with a presence in London and Washington DC. It was founded by Floris Hovingh, former head of EMEA debt advisory at Perella Weinberg, and Nedim Music, former US head of cross-border debt advisory at Deloitte Corporate Finance.

The firm will advise on senior debt, unitranche facilities, holdco debt, preferred equity and convertible instruments across corporate, leveraged finance, infrastructure and real asset situations.

Hovingh told Infralogic that “a combination of factors has converged to make this the right moment” to launch, as banks become more selective and US private credit funds play a bigger role in financing complex deals.

“Infrastructure has historically been a bank-led market, but the structural shift towards non-bank lenders is now firmly underway,” he said.

Hovingh said Streif will target transactions in the EUR 100m-EUR 500m (USD 116.09m-USD 580.45m) range, a segment he said is often too large to delegate to junior teams but too small to command consistent senior attention at large institutions.

“There is a segment of the market that is systematically underserved,” he added. “Complex transactions require deep senior involvement throughout. The traditional hand-off model simply does not work at this level of structural complexity.”

While Streif’s mandate will span multiple sectors, Hovingh said infrastructure and energy transition represented a particularly active opportunity set.

Infrastructure is entering a “once-in-a-generation capex cycle” driven by investment in energy transition, digital infrastructure, grid upgrades and water assets, he said.

Private credit is not replacing banks in core infrastructure, Hovingh said. Banks remain competitive in large-scale, investment-grade assets such as regulated utilities, core motorways and established renewables.

But funds are gaining market share in more complex financings. “Where private credit has genuinely taken share is in situations that require flexibility,” he said. That includes construction-phase assets, merchant-exposed projects and complex holding company structures.

The data center subsector is one of the clearest examples of that shift. “Data centers are clearly the defining infrastructure financing story of the moment,” Hovingh said.

Streif is already advising on edge data center financings and is assessing opportunities across storage assets, from tank and cold storage to self-storage, Hovingh said.

He said demand for hybrid capital, including holdco debt and preferred equity, is being driven by companies seeking to raise capital without the dilution of a full equity raise.