The partners at Paxton Private Finance, a privately funded principal lender which specialises in providing alternative, non-regulated, Short-term finance solutions, are pleased to announce that the Paxton Secured Income Fund has been declared officially launched after the completion of the first round of investment which was oversubscribed.
Established with the intention of becoming an industry leader, Paxton Private Finance is committed to creating a ‘bespoke’ lending platform, which will increasingly benefit from a reputation as a reliable source of finance.
The Paxton Secured Income Fund is a Bridging Fund that has been devised to capitalise on the banking sector’s current lack of appetite for property lending and to enable investors to participate in the relatively high returns available from providing equity to the short-term finance market. Loans will be provided to a maximum 75% LTV ratio for up to six months, giving property developers and other experienced borrowers scope to move quickly on short-term opportunities while controlling the fund’s exposure to market movements.
FSA-regulated operators Real Estate Associates Ltd have structured the scheme as an English limited partnership, enabling the quarterly income distributions to be made gross of tax. An exempt unit trust serves as a feeder for SIPPs and other tax-exempt entities to access the fund in units from £25,000.
www.paxtonsecuredincomefund.com
QUOTES:
Nick McLean, Partner, Paxton Private Finance
“As the demand for short-term finance has increased, so too has the need to diversify our funding sources, and we are delighted that the launch of the Paxton Secured Income Fund will provide a broadening of our funding base”.
David Kinane, Partner, Paxton Private Finance
“Our short-term lending facilities provide the ‘missing link’ for many property developers, this is not ‘tick-box’ lending it’s about making sensible decisions and acting on them quickly”
Jamie Fergusson, Consultant at London-based PQR Financial Planning
“We are pleased to have been able to give our clients the opportunity to invest in the Paxton Secured Income Fund at this early stage and are delighted the initial capital raising has been so successful. This fund allows the experienced, focused and disciplined team at Paxton to take advantage of the demand for bridging finance which has been created by the reluctance of the banks to provide capital for specialist lending”.
Alan Bate, Director, Real Estate Associates Ltd
“The new scheme joins REAL’s stable of twenty specialist property and debt funds, giving sophisticated investors access to experienced niche managers like Paxton Private Finance through a simple, tax-transparent onshore structure.
For more visit: www.paxtonpf.com
Name: Nick McLean
Website:www.paxtonpf.com
Email: nickmclean@paxtonpf.com
Phone: 020 3159 5392
Address: 33 St James’s Square
City: London
Postcode/ZIP: SW1Y 4JS
Country: United Kingdom
