Triple Point agrees £30m credit facility with MT Finance
Triple Point has agreed to a £30m corporate revolving credit facility to help MT Finance scale up its property lending.
The facility builds on the ongoing partnership between the investment manager and the specialist lender, following £8m of funding from Triple Point in 2021 to complete the management buy-out of the company.
Triple Point said that the latest funding agreement will be used to support MT Finance’s loan originations and continued investment in operations.
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MT Finance specialises in buy-to-let mortgages, bridging loans, and auction finance.
“We are pleased to continue our relationship with MT Finance by providing this new facility,” said Ellis Diamanti, relationship director at Triple Point Private Credit.
“Having first supported the management buy-out in 2021, the business has continued to enhance its reputation as a leading property finance provider in the UK. We look forward to supporting the business’ future ambitions.”
Joshua Elash, chief executive of MT Finance added: “Triple Point has been an excellent partner to MT Finance over the last several years and we are delighted to have the opportunity to further expand the relationship. This new facility will help drive our exciting growth plans as we look forward into 2024.”
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Last week, Triple Point announced that it had made two internal appointments to its private credit senior management team, effective from 3 November.
Sean Brophy has been promoted to chief commercial officer (business finance), having previously led Triple Point’s SME debt finance offering in the UK.
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Steve Gordon has been named chief commercial officer (corporate, public sector and infrastructure), having joined the firm in 2019 as head of corporate private credit.
These appointments follow Toby Furnivall being appointed managing director of Triple Point Private Credit last month.