British Business Investments and DunPort partner on private credit vehicle
British Business Investments has announced a £50m private credit co-investment vehicle with DunPort Capital Management to provide smaller businesses with flexible debt capital solutions.
The commercial arm of the UK state development bank said that the new vehicle, called Alder Corporate Credit DAC, will support firms with a turnover of less than £100m that are wholly or predominantly based, headquartered or operating in the UK.
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Alder will co-invest alongside Oak Corporate Credit DAC, launched in 2021 and backed by the Ireland Strategic Investment Fund, the European Investment Fund and a number of other institutional investors to support smaller firms.
“At British Business Investments, our mission is to improve access to alternative finance for smaller businesses across the whole of the UK,” said Adam Kelly, managing director, British Business Investments.
“This £50m commitment to DunPort will support UK businesses with the flexible debt solutions they require to develop their growth strategies. We are delighted to partner with DunPort.”
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Pat Walsh, executive director of DunPort said that the UK is a strategic market for the firm, where it is continuing to see strong demand from a wide range of sponsors, advisers and business owners for flexible debt solutions.
“The launch of Alder now increases our capacity to support small and medium sized companies across the UK,” he added. “Furthermore, the addition of British Business Investments to our investor base is an important validation for DunPort as we continue to enhance our position as a leading alternative debt capital provider in the UK and our other core markets of Ireland and the Benelux region.”
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