Delancey Real Estate backs new ABF investment manager
A new investment management firm specialising in asset-backed financing (ABF) solutions has been launched, with the backing of Delancey Real Estate.
Evermill Capital was created to meet the demand for liability-matching assets in the UK. It will deliver bespoke ABF solutions for operating businesses and institutional clients.
Evermill’s founding partners (pictured) are Scott Gardener, Tom Benham and Harry Millward. Between them they have approximately 60 years of combined experience in real estate, fixed-income and structured finance, and have previously held senior roles at the likes of AlphaReal and Macquarie Asset Management.
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The partners have collectively raised approximately £3bn and helped to deploy over £2.5bn into secure income real estate in recent years
“Sourcing matching assets can be a challenge for bulk annuity providers,” said the three Evermill Capital partners.
“We also recognise that increasing investor demand is coinciding with a period where there are fewer efficient financing options available to asset owners.
“Evermill’s specialist sourcing and structuring skills combined with Delancey’s broader market access means that we are very well positioned to originate and manage high quality matching assets for our clients.”
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The firm has been seeded with an investment by Delancey’s management team, as part of a wider strategy to create a best-in-class platform, as they have previously done with specialist investment manager, NW1 Partners.
“Evermill Capital will allow our clients to access real estate-related opportunities that sit outside the scope of our existing opportunistic and private credit strategies,” said a Delancey Real Estate spokesperson.
“With the entrepreneurial culture of a start-up, Evermill can respond nimbly to opportunities and work across the capital structure more flexibly than existing market participants – a key point of differentiation.”
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