British Business Investments says it has committed to £50 million in a private credit co-investment along with DunPort Capital Management. The funds will help create the co-investment vehicle, Alder Corporate Credit DAC. The funds will be used to support smaller firms in the UK with revenue under £100 million.
The Alder vehicle will co-invest alongside Oak Corporate Credit DAC, launched in 2021 and backed by the Ireland Strategic Investment Fund, the European Investment Fund, and several other institutional investors to support smaller firms.
Adam Kelly, Managing Director of British Business Investments, said their mission is to improve access to alternative finance for smaller businesses and the £50 million commitment to DunPort will support UK businesses with the flexible debt solutions.
Since its establishment in 2014, British Business Investments, part of the British Business Bank, reports that it has committed more than £3.8 billion to finance providers for UK smaller businesses.
