Beechbrook Capital has provided a £2m working capital facility to Allegro Finance’s film and TV lending platform through funds managed on behalf of the British Business Bank.

According to the firms, the facility will support Allegro’s institutional film and television lending platform and accelerate the flow of private capital into the UK’s creative industries.

“This working capital facility is a powerful catalyst for Allegro’s growth and we are grateful for the support from Beechbrook and the funds they manage on behalf of the British Business Bank,” said Sam Collett, co-founder and chief finance officer at Allegro Finance. “It enables us to scale the platform and deploy private institutional capital into the UK film and television sector at a level not previously seen.”

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Allegro is an alternative lending platform for the media sector. It provides senior secured financing against contracted production receivables, including tax credits and presale distribution minimum guarantees, as well as funding against unsold rights. According to the firm, this structure allows producers to access reliable and repeatable funding during production.

Beechbrook is a European private credit manager, managing around £1bn of investment on behalf of institutional investors. The British Business Bank is a government-owned, independent development bank that supports UK small and medium-sized enterprises.

The news comes as Allegro Finance announced a $500m (£373m) senior funding line with entities advised by Elliott Advisors, dedicated to global film and television production.

“This facility will enable Allegro to accelerate capital deployment to producers and production companies, materially increasing the funding available for film and television production,” said Paul Shea, managing partner at Beechbrook Capital. “This represents a compelling opportunity to back a high-quality team, with funds invested by the British Business Bank, into a leading UK industry to support continued growth and job creation.”

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