Prestige Group, a specialist private lending asset manager with a successful 12-year track record in the private debt market, is adding a new US strategy to its existing range of successful alternative credit funds.
- Targets smaller companies across a range of commercial / industrial sectors in the USA
- Backed by a highly experienced commercial finance team in New York
Business Finance Opportunities (BFO) is focusing on asset-based lending in short and medium-term commercial loans, specifically in the United States. The loan portfolio will be managed by dedicated, specialist Finance Arranger – Capstone Capital Group, a US-based private lender focusing on invoice and factoring finance with a successful track record in the market stretching back over three decades.
Established in 1990, New York based Capstone has originated over USD 6 billion in transactions over that time. Capstone and Prestige have worked together successfully since 2012. The Capstone team can draw on lengthy experience within the US private lending and trade finance space and apply rigorous analysis
to new prospects within the finance market.
The Cayman Islands-domiciled BFO will invest in a diversified portfolio of secured finance opportunities across a broad range of commercial and industrial sectors within the USA. Most of the financing activity will be secured against assets including accounts receivable, inventory, equipment, machinery, and real estate.
The Fund will be aimed at institutional investors looking to diversify their investment portfolios in a strategy that has a low correlation to traditional bonds and equities. The Fund will operate as an open-ended vehicle although it will have monthly liquidity on 90-180 days and will be available in accumulation and distribution share classes in GBP / USD / EUR currencies. The Fund will operate without leverage or performance fees. The target asset raise in year one will be USD 50-100 million, although the current investible opportunity pipeline stands at USD 250 million over the next 1-2 years.
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