Leading private debt manager launches eight share classes on Euronext Dublin in response to increased global demand for lending strategies.
DUBLIN, 04 May 2018: Prestige Funds, a leading manager focused on the private lending market in the UK, is pleased to announce the listing of eight share classes for its Commercial Finance Opportunities Fund. The share classes include hedged EUR, USD, CHF as well as GBP based share classes operating with no performance fee and typically without leverage.
The Commercial Finance Opportunities Fund (“CFO”) invests in a diverse portfolio of hundreds of secured loans to UK-based businesses. Domiciled in Luxembourg and launched in 2011, the Fund now has over EUR 100 million in assets under management.
CFO’s loan portfolio origination is overseen by a dedicated team of over 50 staff based in the UK, including commercial finance professionals with track records in some of the UK’s leading banks and extensive networks within the UK business community.
Craig Reeves, Founder of Prestige, commented: “We are very pleased to be listing the Commercial Finance Opportunities Fund on Euronext Dublin – this is an important new milestone for Prestige, and for the mainstream acceptance of lending funds. Since we launched CFO as a Luxembourg fund we have seen considerable interest in the Prestige approach to SME lending from investors in Europe and further afield.”
Prestige Funds has been managing direct lending strategies in the UK for over 10 years and has raised over USD 1.6 billion since launch. Its investors include private banks, pension funds, family offices and sovereign wealth funds around the world.
“Demand for lending funds is being driven by low interest rates and increased market volatility globally, as well as the need for real asset class diversification in portfolios,” Reeves added. “We are seeing increased interest in our approach to this market with numerous visits from major investors over the last six months. The listing on Euronext Dublin will help to support the continued expansion of the Prestige European product range for experienced investors.”
CFO is a Luxembourg-domiciled SIF also referred to as an alternative investment fund (AIF), authorised by the CSSF in Luxembourg, and managed by a full scope Alternative Investment Fund Manager (AIFM). Unlike many private debt funds, CFO is an open-ended fund with 60 to 90 day liquidity, depending on share class.
For more information on Prestige Funds, please contact Stuart Fieldhouse, Director of Communications, Hawksmoor Partners – stuart@hawksmoorpartners.com