TAB secure new credit facility with leading New York alternative investment fund
08 February 2022
Property lender TAB has secured a new funding line from New York investment firm, Atalaya Capital Management (‘’Atalaya’’).
The revolving credit facility, of up to £120m, will be used to support the continued growth of TAB over the coming years and will be used to finance bridging and development loans.
Atalaya is a privately held, SEC-registered, alternative investment advisory firm. Atalaya primarily focuses on making private credit and special opportunities investments in three principal asset classes – financial assets, real estate and corporate. Founded in 2006, Atalaya is headquartered in New York City and manages approximately $7 billion on behalf of a global institutional investor base.
TAB, based in Borehamwood, is a leading short-term property finance lender specialising in secured bridging and development finance loans, with its main focus being in prime residential areas in London and the South of England.
Duncan Kreeger, Founder and CEO of TAB, said: “Atalaya backing TAB and our management team not only enables us to continue lending but also to support any growth opportunities we wish to pursue. As well as the senior team at TAB, I’d like to thank Stuart Mogg and Jack Dutton at EY and Jonathan Segal at Fox Williams. Their efforts and expertise have been a huge support to TAB on our journey. This is an exciting day in our history and will help us carry on looking after our valued broker partners.”
Brian Moore who led the deal for Atalaya said: “The senior management team - and Duncan Kreeger in particular - know the UK’s bridging market inside out. We like their combined experience and the ethos they have created at TAB, emphasizing transparency and fair dealing. We look forward to playing our part in supporting their growth in the years to come.”
TAB was advised by the Financial Services Debt Advisory Team at EY, while London solicitors Fox Williams LLP provided legal advice.
Stuart Mogg, who leads EY's Financial Services Debt Advisory offering in the UK, said: “We are delighted to have supported TAB on this capital raise. It has been an absolute pleasure working with the whole TAB team, led by Duncan Kreeger and Kobi Lehrer. We look forward to continuing our relationship with the business. We would also like to thank Atalaya Capital Management, Travers Smith and Fox Williams for all their efforts in getting this over the line. Particular thanks to Jack Dutton for leading this transaction for EY”
Jon Segal, the head of FinTech and Alternative Finance at Fox Williams said: We’re delighted to have helped secure this landmark facility for TAB which will provide the bedrock of TAB’s continued growth. The TAB management team and EY advisory team were a pleasure to work with and really showed their quality during this transaction. It was also fantastic to work opposite the Atalaya team again who have demonstrated their commitment to the UK market.
