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Tiuta secures major new funding

  • 21/10/2010
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Tiuta secures major new funding
Tiuta has agreed a major new funding line through Connaught Asset Management to support its expansion plans in the specialist lending sector.

The Connaught Income Fund Series 2 will help Tiuta develop into a wider range of specialist lending product areas and structured progression into the longer term finance markets.

The open ended fund from Connaught has a revolving value of up to £300m, from which Tiuta can lend with terms of up to five years.

The fund will focus on short- to medium-term lending for activities including property development and renovation.

George Patellis, chief executive of Tiuta, said: “Although this is one of a number of funding lines that Tiuta is fortunate to have, the sheer weight of the backing of Connaught Asset Management illustrates just how determined we are to really make a mark in the specialist lending arena.”

He added: “Bridging finance still stands at the heart of the Tiuta proposition but there remains a large propensity to grow and really challenge across the whole of the specialist lending arena and secure our standing as a leading short- to medium-term lender.”

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