Investec Australia is following the wider Investec Group’s involvement in the British and South African Asset Based Lending (ABL) markets, and is entering the Australian ABL capital market to fill “the void” left by the departure of GE Capital.
Head of Investec CAF, Simon Beissel said the group would focus on sponsored and non-sponsored event driven transactions including acquisition, recapitalisation and growth.
“Investec will replicate its successful UK model by offering a combination of Asset Based and Cash Flow Lending,” he said.
“Over the past 12 months, Investec has been setting up the ABL platform which included system installation.”
The group would look to target mid-market companies with asset rich balance sheets with the ABL business, which Beissel said would fit well with Investec’s existing CAF core product range, which included leverage finance, corporate lending, fund finance, and asset finance.
Within the Australian fund market, FE Analytics showed Investec Asset Management’s Investec Diversified Growth Fund has year to date returns of 2.46 per cent, slightly below the sector average 3.88 per cent returns.
