Adi Chugh

CEO, TYKO Capital

Adi Chugh started 2025 with buzz. He ended it with a bang.

In December 2025, Chugh’s TYKO Capital provided a $1.13 billion construction loan to finance Gary Barnett’s Chanel-anchored office, retail and residential tower at 655 Madison Avenue.

It was the year’s biggest construction loan, and it placed Chugh squarely in the rarified world of ten-figure dealmakers just three years after launching his company.

Chugh, who started his career as a debt broker with a reputation for financing hairy deals that others had trouble figuring out, founded TYKO in 2023 as a joint venture with billionaire hedge funder Paul Singer’s Elliott Investment Management. (TYKO — pronounced tie-co — stands for “making it happen” and “good luck” in Greek.) 

It was a time when banks were pulling back from lending, and private credit investors were lining up to fill the void. In short order, Chugh has become one of the most active private lenders in real estate.

He’s done deals like a $357 million loan for the Brodsky Organization’s conversion of the Flatiron Building into 40 condos, and a $565 million check for Vlad Doronin’s OKO Group and Cain International 830 Brickell Plaza in Miami — the city’s first standalone office tower built in more than a decade.

TYKO participated in the $1 billion refinancing of the massive One High Line condo development in 2024.

But as banks return to the playing field, private credit’s moment in the sun could fade. Chugh will have to adjust and adapt as the market shifts in 2026.