Monday February 7th, 2022 -
Doubling an existing facility to one of the UK’s most innovative asset management companies
The Challenge
Launched in May 2015 and led by Managing Director and Lead Fund Manager, Tim Parkes, RAW Mortgage Fund, run by RAW Capital Partners, has completed over 350 loans at an average loan to valuation ratio of only 47%, and has provided very consistent returns to investors.
With the fund showing strong loan book performance throughout 2020, and a strong pipeline for 2021, despite the ongoing challenges being presented by the pandemic, it required a larger facility to keep up with investor demand.
Opportunity & Outcomes
We increased our existing Revolving Credit Facility with RAW Mortgage Fund totalling £20M from 2019, up to £40M, allowing the fund to lend ahead of investor subscription and retain headroom for potential redemptions.
This transaction from February 2021 further demonstrated OakNorth’s growing capabilities and expertise in the funds finance space.
we will continue to scale our team and processes in line with the envisaged growth of the Fund and are grateful for OakNorth’s continued support. Since we completed the initial part of this transaction together, OakNorth have done several funds finance deals, so their depth and breadth of expertise in this space continues to grow