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Fund wins new mandates for direct lending strategies




By Daniel Lanyon on 21st November 2017

https://goo.gl/3tkwjX

Prestige asset management has opened up its alternative credit portfolios to institutions in the past few years.

 

Prestige Asset Management has secured a series of new mandates from institutional investors outside the UK for its private lending credit funds, bringing its AUM to $875m.

 

The mandates are the latest to be received from non-UK institutions that are allocating to the UK-based private lending specialist. The investors include, a Swiss-based industrial corporate pension fund, a South Korean-based financial group and a Spanish-based university endowment.

 

Despite last year’s Brexit referendum, Prestige continues to see a high level of institutional interest, including in some of the sterling based share classes of its credit funds, the firm say.

 

Craig Reeves, founder of Prestige, says non-UK investors like the “plain vanilla” yield characteristics of private lending strategies.

 

“Part of the attraction is also our focus on areas of the market neglected by traditional lending institutions, and the diversification of risk across hundreds of individual loans.”

 

Prestige, through its two UK-based, specialist finance operations, has provided almost 15,000 loans to 6,000 clients since it launched.

 

It focuses on two main strategies: a Cambridge-based, credit team that lends to small companies in the agricultural sector with a focus on short and medium term ‘asset finance’ and ‘project finance’, and a London-based, direct lending team with a focus on short term finance. 

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