Rand Merchant Bank (RMB) and Westbrooke Alternative Asset Management UK Limited are pleased to announce the completion of a £25m credit facility to Westbrooke Yield Plus Plc.
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 out performance 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, Managing Director of Westbrooke UK, has stated:
“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.”
Founded in 2004, Westbrooke is a multi-asset, multi-strategy manager of alternative investment funds and co-investment platforms. Their purpose is “to preserve and compound our clients’ wealth to cement their future prosperity.”
They claim to 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.”
They reportedly seek “to generate predictable, risk-managed, compounding returns for our clients, shareholders and management to cement their future prosperity.”