Pivot , a specialist development lender, has secured a 50% increase in its lending capacity through funds managed by its institutional partner, Foresight Group.
This expansion will enable Pivot to scale its operations further and diversify its offerings for brokers and developers.
In November 2023, Pivot received an initial commitment from Foresight-managed funds, joining longtime partner Quilam Capital, which provides junior capital and equity.
With nearly £250 million in completed transactions across development and short-term lending, Pivot continues to strengthen its funding base and grow its expert team, recently appointing Chris King as Head of Credit.
The lender is starting 2025 with an exceptionally strong pipeline of business across the UK, with particular emphasis on facilities of £1m-£10m for SME developers.
Paksan Wu, Capital and Treasury Director at Pivot, commented:
“The relationship we have with our funding partners is a marked USP for Pivot.
“Going beyond the typical dynamic means that we have full support to deliver a clear, compelling offering to a market which is still very much in need of reliable finance solutions.
“Foresight’s approach to development finance completely aligns with our model, and they recognise the strength of our people, processes and tools.”
Founded in 1984, Foresight is a leading investment manager in real assets and capital for growth, with £12.4bn of assets under management. A Senior Revolving Credit Facility has been provided to Pivot by funds managed by Foresight to support the underserved SME development finance market across the UK. Foresight’s Private Credit strategy provides secured wholesale loan facilities to alternative lenders; designing bespoke facilities to enabling innovative finance businesses to scale and better serve their customers.
