Investec Australia to enter asset-based lending market
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.
AUTHOR
Hope William-Smith
Recommended for you
Evidentia’s chief investment strategist Nathan Lim has announced his retirement after a 30-year career.
GQG Partners has marked its fifth consecutive month of outflows as its AI concerns lead to fund underperformance but overall funds under management increased to US$166.1 billion.
Apostle Funds Management is actively pursuing further partnerships in Asia and Europe but finding a suitable manager is a “needle in a haystack”.
Managed account provider Trellia Wealth Partners, formed from the merger between Betashares and InvestSense, has appointed its first managing partner.
