BBB backs Beach Point SME lending fund with £59m
The British Business Bank has made a cornerstone commitment of up to £59m to Beach Point Capital’s fourth UK and Ireland SME direct lending fund.
The investment in the new fund, BPC Europe SME DAC, forms part of a £65.7m first close.
It follows the bank’s previous investments of £20m in 2022 and £30m in 2025 in Beach Point’s first dedicated UK SME lending fund, and is expected to take its total potential commitment to the firm to more than £100m, the firms said.
“By building further on our strong partnership with Beach Point Capital, this new fund will provide much-needed growth capital to smaller businesses across the UK’s Nations and regions, particularly in areas where access to finance can be more limited,” said Adam Kelly, managing director and co-head of funds at the British Business Bank.
Read more: BBB launches $140m fund for East of England SMEs
Business secretary Jonathan Reynolds added: “This new funding will help more of them access the finance they need to grow, particularly in areas like Northern Ireland, Scotland and the North of England.”
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The fund will target growth-focused businesses with an annual turnover of less than £25m, providing loans of between £500,000 and £10m to SMEs across the UK and Ireland.
It is sector-agnostic, but Beach Point aims to continue its track record of investing in financial services and in the digital and technologies sector.
The previous iteration of the fund invested in 26 businesses across all UK nations and regions, with a particular focus on Northern Ireland, Scotland and the north of England, accordig to Beach Point.
