Cairn Capital is an independent European credit manager with market leading real estate debt investment and advisory businesses focused on secured real estate debt across Europe, both public and private loans and debt securities.  For the advisory business notable transactions have included the €237.5m Pangaea Funding 1 plc issue for NBG Pangaea REIC secured on a portfolio of Greek bank branches and offices and the €203m Tibet CMBS S.r.L., secured on prime Milan retail assets. The investment business launched a dedicated real estate debt strategy, Cairn European Commercial Mortgage Fund, in February 2016, which invests in both public and private real estate debt securities secured on European real estate assets.