Funds move directly into loan market

If funds cannot If funds cannot get access to loans via structured products, can they go into the market themselves by making loans?  M&G are in £266m property financing deal - FT.com  

"It is the second time this week a UK insurer has provided debt finance for a property deal, with Legal & General issuing its maiden property loan on Tuesday.

The relationship between the two sectors is deepening rapidly as insurers snap up opportunities created by the shortage of bank lending."

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