MTF to sell £125m of bridging loans to investment manager
MT Finance has agreed to sell £125m of bridging loans to a global institutional investment manager.
The investment manager is so far unnamed but has $1.4 (£1.12) trillion of assets under management.
It has the option of acquiring a further £125m of MTF loans.
Joshua Elash (pictured), co-founder of MTF, said: “We are delighted to be partnering with an institution of such significant standing and this additional funding will enable the company to drive forward the ambitious growth plans we have in place to grow MTF into the market leading bridging finance provider.”
Tomer Aboody, co-founder, said: “This is an exciting day in MTF’s history and starts a new chapter of growth.
“We look forward to continuing to engage with our highly valued client and broker relationships. We move forward into 2017 with significant optimism for the future.”
Since launching in 2008 the bridging lender has completed in excess of £250m in loans in the past few years.
MTF was advised by the Financial Services Corporate Finance team at EY.
Elash added: “We would like to give our thanks to Nick Parkhouse and the team at EY who spent the time to understand the shareholders goals, worked with us to devise a long term plan and then set about executing the transaction supporting us through the entire process.”