Ashcombe Advisers is pleased to announce that it has advised Montello Capital Partners (“Montello”) on a £20m financing from an institutional fund manager. Montello is a leading property bridge and development lender providing short-term financing secured against residential and commercial real estate assets. The business was set up in 2008 and has lent in excess of £50m. The institutional financing will complement two innovative retail funds that Montello has raised for bridging and development opportunities.
Montello Managing Partner, Christian Faes, commented: "We are excited to have concluded this agreement with our new funding partner. Our two current funds are seeing good net inflows, but the fundraising environment remains quite difficult. With this financing round we feel that we have achieved a very good balance between flexibility and price, and it will allow us to continue to grow the Montello brand within the short term lending market. Ashcombe Advisers’ relationship with the capital provider and knowledge of the speciality finance market helped significantly to get this transaction completed.”