The lower mid-market in fund finance is underserved in a specific way. Global banks focus on scale: their processes, documentation and minimum thresholds are built for larger mandates. Specialist boutiques can handle complexity, but often at the cost of speed and accessibility. For fund managers operating between £50m and £1b AUM, neither reliably delivers what’s needed.
We focus on this segment. Providing facilities from £3m to £75m, combining real-asset underwriting expertise with direct access to experienced decision-makers. The result is a lending process built around how your fund actually operates, not adapted from a template designed for a different mandate.
Mohith Sondhi. Managing Director, Debt Finance
Mo leads our fund finance practice and works directly with fund managers and GPs from first conversation through to close.
NAV Facilities
Portfolio-backed facilities for more mature funds seeking structured liquidity against underlying asset value. We underwrite with a strong understanding of sector fundamentals and portfolio construction, particularly across business services, healthcare and real assets.
Subscription Facilities
Secured against investor commitments to support capital call bridging, transaction execution and liquidity management. Structured around your LP base, fund documentation and drawdown profile, with clear credit parameters and transparent timelines from the outset.
Hybrid Facilities
As funds mature and assets generate measurable value, hybrid facilities combine investor commitments and portfolio backing to provide additional flexibility. Designed to support follow-on investments, portfolio optimisation and evolving liquidity needs as your fund progresses through its lifecycle.
GP & Management Company Facilities
Selective facilities to support GP working capital, co-invest commitments and operational growth.
Mid-market private equity
Funds between £100m and £1b AUM, typically investing across business services, healthcare, and industrial technology. These funds have institutional LP bases and portfolio companies with measurable earnings, which means we can underwrite with conviction rather than applying blanket eligibility criteria.
Real estate
Funds between £100m and £1b AUM focused on commercial, logistics, build-to-rent, and social housing strategies. Our real estate lending background means we understand asset dynamics at portfolio level, not just fund level, which supports faster and clearer credit decisions.
Emerging managers
Target funds between £50m and £1b AUM building specialist strategies across healthcare services, digital infrastructure, and professional services. Early-stage managers are consistently underserved by larger banks whose processes and minimum thresholds are built for established franchises, not growing ones. We engage early and stay engaged as your fund matures.
We’re active across the fund finance market and regularly attend the events where fund managers and GPs gather. Come and find us at one of our upcoming appearances.
