10 May 2023
British Business Investments today announces it has increased its commitment to private credit provider Apera Asset Management by £30m. The increase, which follows an earlier commitment of £50m, brings the total commitment from British Business Investments to £80m.
The investment will be deployed through a Separate Managed Account (SMA), enabling British Business Investments to pursue a bespoke investment strategy and invest in UK companies only. The SMA has so far invested £48.3m in 15 companies.
British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to increase the supply and diversity of finance for smaller businesses across the UK by boosting the lending capacity of a range of finance providers. Since it was established in 2014, British Business Investments has committed more than £3.3 billion 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 since its inception has arranged 58 investments aggregating €2.3bn. In addition, Apera’s founding partners invested €3.1bn across 140 transactions prior to Apera’s inception.
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. With this increased commitment to Apera, we will help more smaller businesses across the UK access the capital they need to grow.
David Wilmot, Partner, Apera Asset Management said:
“We are very pleased at this expansion in our relationship with British Business Investments. Apera has extensive experience in providing tailored financings to assist smaller UK businesses in their development, and we are grateful for the support and partnership of British Business Investments in helping us to grow this activity further”.
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British Business Investments team at MHP Communications
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British Business Investments Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. 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.
The Bank and its subsidiary entities are not banking institutions and do not operate as such. They are not 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 transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc or its subsidiaries or any other party in respect of Apera or its products or services.
Apera is a pan-European mid-market private debt manager operating in the UK, the DACH region, the Nordic region, France and Benelux. Apera is focussed upon the provision of tailored financial solutions that meet the operational needs and growth objectives of small and medium-sized companies.