Former-Amicus heads launch M&G-backed lender

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  • 30/01/2020
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Former-Amicus heads launch M&G-backed lender
Atelier Capital Partners has launched into the short-term lending and development finance market backed by funds managed by M&G Investments.

 

The business was founded by former Amicus Property Finance managing director Keith Aldridge (pictured) and ex-Amicus Finance chief operating officer Chris Gardner, along with Graham Emmett who was previously managing director – head of European real estate debt at HIG Capital.

It offers short-term and development finance for up to 24 months to professional small and medium-sized developers and property companies.

Loans are available from £500,000 up to £10m with retained, rolled and serviced interest options available.

Funding will be primarily on schemes and assets on brownfield sites that support urban regeneration and the ‘upcycling’ of UK real estate assets.

Altelier said it has already committed more than £25m of lending to date for land acquisition, light and heavy refurbishment, development, auction and more general commercial purposes.

M&G Investments is providing significant capital to lend and has also provided equity to the business, with the investment made on behalf of M&G’s pension fund and institutional clients.

Atelier Capital Partners chief operating officer Chris Gardner said: “Short-term property finance is one of the most dynamic sectors in the UK and has gone from strength to strength during the past decade.”

M&G Investments head of institutional fixed income William Nicoll added: “As the backbone to the UK economy, access to short-term finance is essential for small and medium-sized developers and property management companies to invest in and regenerate sites across the country.

“Providing institutional capital for this sector on a short-term basis will provide the sector with greater stability and we also expect it to generate income for our pension fund and institutional investors.”

 

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