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Financial services
Business Finance Partnership (BFP)
05 December 2012
The Business Finance Partnership (BFP) aims to increase the supply of capital through non-bank lending channels and, in the longer term, to help to diversify the sources of finance available to businesses. It will co-invest a total of £1.2bn through these channels, matched by at least equal private sector capital, to help create and support new sources of lending for small and mid-sized businesses in the UK.
First set of investments
Successful proposals from the first tranche of investment were announced at Autumn Statement 2012. These five funds are now open for business and will greatly expand the market for such lending in the UK.
The fund managers are Alcentra Limited, Ares Management Limited, Haymarket Financial, M&G Investment Management and Pricoa Capital.
Enquiries regarding these funds should be directed to the fund managers.
Prospective borrowers should contact;
- Alcentra: Graeme Delaney-Smith graeme.delaney-smith@alcentra.com 020 7367 5003;
- Ares: Mike Dennis dennis@aresmgmt.com 0207 153 4631;
- Hayfin: Mark Tognolini mark.tognolini@hayfin.com 020 7074 2906;
- M&G: James Pearce james.pearce@mandg.co.uk 020 7548 2695;
- Pricoa: Ed Barker edward.barker@pricoa.com 020 7621 8429.
Media enquiries should contact;
- Alcentra: Simon Perry simon.perry@alcentra.com 020 7367 5272;
- Ares: Bill Mendel bill@mendelcommunications.com +1 (212) 397 1030;
- Hayfin: Andrew Garfield/Stuart Hudson/Sheena Shah hayfin@brunswickgroup.com 020 7404 5959;
- M&G: David Butcher david.butcher@mandg.co.uk 020 7548 2478;
- Pricoa: Albert Trank albert.trank@pricoacapital.com (+1) 973 802 8608.
A copy of the original market engagement notice and Request for Proposals leading to these investments are available;
Further investments
On 31 May 2012, the Government published two further Requests for Proposals.
One was published by HM Treasury and invites fund managers focused on lending to mid-sized businesses to make further proposals to manage up to £400m of additional Government investments through the BFP.
A Request for Proposals was also issued by the Department for Business, Innovation and Skills, and invites proposals from managers of non-traditional lending channels focused on small businesses. Up to £100 million is available for investment through these channels. This document is available at the link below.
The requests for proposals for these tranches have now closed. Bids are being assessed and investments will be confirmed in due course.
Contact us
General enquires about the Business Finance Partnership investments managed by HM Treasury can be directed to businessfinance.partnership@hmtreasury.gsi.gov.uk. Note that HM Treasury cannot answer specific inquiries about individual funds receiving investment and their lending and other commercial decisions. Such queries should be directed to the fund managers themselves using the contact details above.
For enquiries about the investments managed by the Department for Business, Innovation and Skills, please see the BIS website (opens in new browser window).
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Business Finance Partnership (BFP)
