DunPort expands UK lending with £50m SME focused private credit fund
New co-investment credit vehicle backed by the British Business Investments
DunPort Capital Management (“DunPort”), the Dublin headquartered, leading provider of flexible debt capital to Irish, UK and Benelux businesses, is pleased to announce the close of a new £50m co-investment vehicle, Alder Corporate Credit DAC (“Alder”).
British Business Investments Ltd, has committed £50m to Alder to provide UK businesses with a turnover of less than £100m with flexible debt capital solutions.
British Business Investments Ltd, a wholly owned commercial subsidiary of the British Business Bank, aims to improve access to alternative finance for smaller businesses across the UK, while supporting the transition to a net zero economy.
The launch of Alder represents a significant expansion for DunPort in the UK market, targeting smaller firms that are wholly or predominantly based, headquartered, or operating in the UK.
The Alder vehicle will initially co-invest alongside Oak Corporate Credit DAC, which was launched in 2021 and is backed by the Ireland Strategic Investment Fund, the European Investment Fund and a number of other institutional investors to support SMEs across Ireland, the UK and the Benelux.
It is also envisaged that Alder will co-invest alongside successor DunPort managed vehicles also aimed at deploying tailored and flexible debt capital solutions to lower mid-market companies across its core markets.
“The UK is a strategic market for DunPort and one in which we are continuing to experience strong and sustained demand from a wide range of sponsors, advisors and business owners generally for flexible debt solutions,” commented Pat Walsh, Executive Director of DunPort. “The launch of Alder now increases our capacity to support small and medium sized companies across the UK. Furthermore, the addition of British Business Investments to our investor base is an important validation for DunPort as we continue to enhance our position as a leading alternative debt capital provider in the UK and our other core markets of Ireland and the Benelux region,” Mr Walsh said.
Adam Kelly, Managing Director, British Business Investments said: “At British Business Investments, our mission is to improve access to alternative finance for smaller businesses across the whole of the UK. This £50m commitment to DunPort will support UK businesses with the flexible debt solutions they require to develop their growth strategies. We are delighted to partner with DunPort.”
Since formation in 2013, DunPort’s experienced team of investment professionals has advanced over €1bn to more than 60 companies, providing flexible and tailored debt capital solutions for stable, cash generative businesses.
