Beechbrook hires new managing director to drive UK direct lending business
Beechbrook Capital has appointed Richard Smart as its new managing director, as it looks to build out its direct lending business in the UK.
Smart was previously head of UK financing solutions in NatWest, where he was responsible for the regions and London. In this role, he led the origination, structuring and execution of event driven transactions for businesses of all sizes. He was responsible for more than £4bn in debt deployment across approximately 115 transactions per year.
He was also a member of the NatWest UK debt and financing solutions management team, and chair of the national investment committee.
At Beechbrook, Smart will help to grow the company’s UK direct lending strategy and originate new business investment opportunities.
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“We have a long-established track record and commitment to providing debt financing to the UK lower mid-market and have closed 95+ transactions to date across the UK and Europe,” said Paul Shea, managing partner at Beechbrook Capital.
“Our success in sponsorless lending has been built around our commitment to this significant market opportunity and investing in a regional network that allows us to access local advisors to bring debt financing to all corners of the UK.
“We are delighted to welcome Richard to the team, who brings his regional and national experience and vision to our SME funds. This will accelerate our footprint, expand our support for borrowers and benefit our investors.”
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Smart said that the success of the Beechbrook Capital brand and its future growth aspirations in UK corporate direct lending represents creates a huge opportunity.
“I am excited to build on the three existing UK funds invested to date, and ultimately to make debt solutions available to a wider subset of companies, without the need for majority equity ownership,” he added.
“Offering differentiated and tailored financing solutions that align with borrowers’ needs is essential to fill the gap left by bank retrenchment, and beyond that, to help drive economic growth in the UK.”
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