Bridging lender MT Finance has partnered with Global Institutional Investment Manager for more than $1.6 trillion of assets under management.
Under the agreement, the fund has committed to initially acquiring up to £100m of bridging loan assets from MT Finance.
Joshua Elash, co-founder of MT Finance, said: “This is a significant endorsement. We have shown discipline and applied a commercial but sensible approach over the past two years. This new funding reflects the confidence our institutional partners place in MT Finance.
“We are delighted to continue to partner with one of the largest financial institutions in the world. This additional financial support enables us to drive forward ambitious growth plans to ensure MT Finance continues its development towards becoming the market-leading bridging finance provider.”
This agreement follows a similar one entered into with the same investment manager in 2017, with MT Finance successfully securing £50m in funding from Insight Asset Management in December 2018.
MT Finance was advised by the financial services corporate finance team at EY.
Elash added: “We would like to thank Nick Parkhouse and the team at EY for their continued support and guidance as a key strategic adviser.”
Nick Parkhouse, partner in the financial services corporate finance team at EY, said: “We are absolutely delighted for Joshua , Tomer and the whole team at MT Finance and look forward to continuing to support them in their future successes.”