Fidelity Bancorp Funding (FBF), a Costa Mesa-based private credit platform specializing in first-lien bridge loans secured by commercial and multifamily real estate, has secured an incremental investment commitment of $300 million from TCW, a global asset manager with over $205 billion in assets under management as of September 30, 2025. This commitment expands FBF's total lending capacity to $600 million, enabling the firm to better serve private real estate investors amid tightening credit conditions.
David Frosh, Chief Executive Officer of FBF, stated that the capital infusion positions the company to serve more borrowers while delivering strong, risk-adjusted returns. He noted that as banks retreat from lending, FBF's selective bridge lending approach fills a critical financing gap for high-quality real estate operators, offering speed and certainty. Charlie Woo, President of FBF, emphasized that the new capital allows the firm to deepen its reach and capitalize on what he described as one of the most attractive market environments in decades.
Max Scherr, Managing Director and Portfolio Manager at TCW, expressed excitement about the partnership, highlighting TCW's focus on sourcing high-quality private opportunities backed by real assets. He credited FBF's disciplined underwriting and deep real estate expertise as key factors in the decision, reflecting confidence in the platform and alignment with TCW's investment approach across its ABF business.
The partnership underscores growing institutional demand for high-quality private credit strategies backed by real estate, as investors seek durable income opportunities in a shifting market environment. FBF, founded in 2000, has built a track record in alternative lending, helping private investors who own about 85% of U.S. commercial and multifamily properties reposition and stabilize assets for long-term financing. Through its managed private credit REITs, FBF offers accredited investors and Registered Investment Advisors (RIAs) access to diversified, institutional-quality, real estate-backed portfolios designed to generate consistent income and preserve principal. More information is available at www.fbfloans.com.
TCW, with more than five decades of experience, offers innovative strategies spanning fixed income, equities, and alternatives through ETFs, mutual funds, and separately managed accounts. Its diverse clients include major pension plans, financial institutions, endowments, foundations, financial advisors, and high-net-worth individuals. Additional details can be found at www.tcw.com.
