TAB secures £120m credit facility from Atalaya

TAB was launched in 2018 and offers a wide range of bridging and development loans from first charge residential and commercial, second charge residential and commercial, land with planning, development finance and refurbishment loans.

It mainly specialises in prime residential areas of London and the South of England.

The lender has previously stated that it intends to write around £100m in development finance business over the next year or so and will target smaller loans as there is a gap in the market for loans under £5m.

Atalaya is a New York-based investment firm and focuses on private credit and special opportunities investments across financial assets, real estate and corporate asset classes. It manages around $7bn (£5.17bn) for its global institutional investors.

TAB was advised by the financial services debt advisory team at EY, and London solicitors Fox Williams LLP provided legal advice.

Duncan Kreeger (pictured), founder and chief executive of TAB, said: “Atalaya backing TAB and our management team not only enables us to continue lending but also to support any growth opportunities we wish to pursue.”

He also thanked Stuart Mogg and Jack Dutton at EY and Jonathan Segal at Fox Williams for their expertise which had supported TAB on its journey.

He added: “This is an exciting day in our history and will help us carry on looking after our valued broker partners.”

Brian Moore, who led the deal for Atalaya, said: “The senior management team – and Duncan Kreeger in particular – know the UK’s bridging market inside out. We like their combined experience and the ethos they have created at TAB, emphasizing transparency and fair dealing. We look forward to playing our part in supporting their growth in the years to come.”