Known as OSL III, the fund provides its underlying investors with exposure to short-term loans secured against UK residential and commercial properties.
All loans are asset-backed with terms of no longer than 24-months, with loan to values capped at 75%.
Omni’s founder and head of risk, Steve Clark, said: “Private credit should be a compelling part of every institutional investor’s portfolio.”
Loans are extended to professional property investors and typically fund the acquisition of buy-to-let properties or fund refurbishment projects. Exit is predominantly achieved by property sale or long-term refinance and Amicus Finance Plc, a subsidiary of Omni Partners, serves as the fund’s origination platform and is responsible for the entire front-to-back loan process.
Omni said the market opportunity for OSL III came from the tightening of underwriting requirements by traditional banks, resulting in an emphasis on standardised lending criteria and increased loan approval times.