Property finance lender, TAB, has secured a new £120m funding line from American investment firm, Atalaya Capital Management.
The revolving credit facility will be used to support the growth of TAB in the coming years and will be used to finance bridging and development loans.
Founded in 2006, Atalaya is headquartered in New York and manages approximately $7bn on behalf of a global institutional investor base. Atalaya is a privately held, alternative investment advisory firm, primarily focused on making private credit and special opportunities investments in three principal asset classes – financial assets, real estate and corporate.
TAB, based in Borehamwood, is a short-term property finance lender specialising in secured bridging and development finance loans, with its focus being in prime residential areas in London and the South of England.
“Atalaya backing TAB and our management team not only enables us to continue lending but also to support any growth opportunities we wish to pursue,” commented TAB founder and CEO, Duncan Kreeger.
Brian Moore, who led the deal for Atalaya, added: “The senior management team – and Duncan Kreeger in particular – know the UK’s bridging market inside out. We like their combined experience and the ethos they have created at TAB, emphasising transparency and fair dealing. We look forward to playing our part in supporting their growth in the years to come.”
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