Rand Merchant Bank (RMB) provides £25m revolving credit facility to Westbrooke’s Yield Plus UK secured private debt fund 31.10.2023, 11:10 Uhr von EQS News Jetzt kommentieren: 0

MEDIA RELEASE

The implementation coincides with the milestone of the Fund exceeding £100m in assets under management (AUM)

Rand Merchant Bank (RMB) (www.RMB.co.za) and Westbrooke Alternative Asset Management UK Limited (Westbrooke UK), have announced the completion of a £25m credit facility to Westbrooke Yield Plus Plc (the Fund). This strategic move has opened new doors for the Fund, offering a broader spectrum of opportunities, more effective cash management, increased financial leverage, and enhanced prospects for growth and scalability.

The implementation coincides with the milestone of the Fund exceeding £100m in assets under management (AUM). As at October 2023, the Fund has in excess of £120m in AUM, a 5-year track record of outperformance that at the time of this release was on track to generate a 2023 net investor yield of c. 9% p.a. in GBP.

Richard Asherson, MD of Westbrooke UK: "We are proud to have partnered with RMB. Their expertise in the financial sector and their support throughout the implementation process has been exceptional. This transaction marks a significant milestone for Westbrooke UK and the Fund, reinforcing our commitment to delivering innovative debt solutions to lower-mid market borrowers and originators across the UK."

Xolela Albert, lead transactor in RMB's Leveraged Finance team, commented on the partnership: "We are excited to provide Westbrooke with market leading solutions to assist their investment objectives. We believe in the quality of the Westbrooke offering and the brand they are building in the UK market. This facility will enable them to leverage new opportunities and contribute to their continued growth."

Distributed by APO Group on behalf of Rand Merchant Bank.

For media inquiries, please contact:

Westbrooke:

Jolanda Botha

jolanda@westbrooke.com

RMB Leveraged Finance Contact:

Xolela.Albert@rmb.co.za

Lungisa.Madinga@rmb.co.za

About Westbrooke:

Established in 2004, Westbrooke is a multi-asset, multi-strategy manager and advisor of alternative investment funds and co-investment platforms. We have a heritage as a shareholder and operator of assets and invest our own capital alongside our investors in Private Debt, Hybrid Capital, Real Estate and Private Equity in South Africa, the UK and the USA.

We provide investors with a unique gateway to private market alternative investment opportunities which are traditionally difficult to access.

Investors benefit from the depth of experience and quality of our investment teams, who apply the Westbrooke Investment & Risk Philosophy and Approach in everything they do. This, together with our highly aligned financial interests, our heritage as an owner and operator of assets, our multi-decade track record of performance and our focus on capital preservation provides our investors with a unique advantage. Invest with the Westbrooke Advantage

About Rand Merchant Bank:

Rand Merchant Bank (RMB) is a leading African corporate and investment bank (CIB) and part of the largest financial services group (by market capitalisation) in Africa – FirstRand Bank Limited (which is wholly owned by FirstRand Limited). We offer our clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.

As a leading CIB franchise across the broader Africa region, RMB has a deal footprint in over 35 countries in Africa, as well as presence in the UK, USA, India and China.

At RMB we are passionate about solving problems for our clients by asking the hard questions. We challenge accepted thinking. We analyse and seek solutions beyond the obvious. We are innovative in our thinking and turn challenges into opportunities, while delivering on Traditional values. Innovative ideas.

Our ability to think differently, our collaborative spirit, our client-centric solutions and our belief that great minds don’t always have to think alike, is what sets us apart. For more information please visit: www.RMB.co.za

Disclaimer: This press release contains forward-looking statements that reflect current expectations and future projections of the Fund and RMB. Actual results may vary due to market conditions and other factors beyond the control of these organizations. Returns are not guaranteed.