The investment will support the senior facility Pivot has renewed and enhanced with Shawbrook Bank, as it targets taking a larger share of the development finance market in 2021.
Pivot has secured a £15m investment from Quilam Capital.
The investment will support the senior facility Pivot has renewed and enhanced with Shawbrook Bank, as it targets taking a larger share of the development finance market in 2021.
The new funding lines will be used by Pivot to underwrite unregulated bridging loans and build out its bridging and development finance offering.
There is also a specific capital contribution being made by Quilam to enable the business to grow its operating model and specifically its data analysis tools.
Pivot was advised on the transaction by a cross-practice team from Fieldfisher, led by banking partner Robin Spender, and debt advisory support was provided by the Pilcher Group, led by Ross Bryan
Shahil Kotecha, chief executive of Pivot, said: “The affiliation with Quilam is more than a typical lender-borrower relationship and whilst completing the transaction during lockdown had its challenges, the synergies between the organisations and management teams were harnessed.
“This partnership approach, and continued support from Shawbrook, will be vital in growing the Pivot business in 2021 and beyond.”
Marc Sefton, a partner at Quilam Capital, added: “We are excited to be able to add Pivot to our roster of portfolio companies.
"We have known the management team for a while and have been particularly impressed by how Pivot underwrites transactions, using tools that we haven’t seen across the market.
“The result has been a strong performance of its existing loan book and we will be working with the team to build on this solid foundation and accelerate growth materially in 2021 and beyond.”
