3 June 2021: British Business Investments, a commercial subsidiary of the British Business Bank, today announces a £50m commitment to private credit provider Apera Asset Management.
The investment will be deployed through a Separate Managed Account (SMA), enabling British Business Investments to take a tailored approach and invest in UK companies only.
British Business Investments aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of challenger banks and non-bank lenders. Since it was established in 2014, British Business Investments has committed over £2.5bn to providers of finance to UK smaller businesses.
Apera specialises in providing private capital solutions to high-growth businesses. The Apera team has over 100 years’ combined experience in the private debt markets and has cumulatively invested more than €3.5 billion in over 150 transactions across Europe.
Judith Hartley, CEO, British Business Investments, said: “At British Business Investments, our mission is to increase the overall supply and diversity of finance for smaller businesses across the UK. By supporting private capital providers such as Apera, we can continue to help growing companies across the UK, to access the capital they need to grow.”
David Wilmot, Partner at Apera Asset Management said: “We are delighted that British Business Investments has agreed to support Apera in our financing of smaller UK companies. We look forward to our co-operation with British Business Investments and to utilising Apera’s network in assisting UK businesses and their management teams in realising their development objectives”.
Notes to Editors
About British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The funding from British Business Investments to Co-Fund NI does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.