The Challenge

Formed as a result of a partnership between John Laing and Macquarie Capital, Brigid Investments was working to a highly sensitive time scale to complete the purchase of c.250 McCarthy Stone-operated retirement properties, situated at locations across the UK, in less than one month. The business was therefore in need of a funding partner  which could move quickly without adopting an off-the-shelf approach.

Opportunity & Outcomes

We supported Brigid Investments by providing it with a structured finance facility of £50M, enabling it to acquire all 250 properties within the short timeframe. Richard Williams, CEO of Brigid Investments, said: “following several conversations with various banks, we realised OakNorth was the one of few lenders which could provide us with a facility that was bespoke to our unique requirements.” Now with the capital in place, Brigid Investments is on track to meet its commitment of financing a further 400 retirement units over the next 12 months, with Richard Williams adding: “the flexible and attractive facility from OakNorth Bank will significantly impact our future growth ambitions.”