Pivot

Pivot secures major funding line from Shawbrook and Insight Investment



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Pivot has agreed a new funding line which will extend its institutional lending capital by £50m.

The short-term property lender’s new capital comes from Shawbrook Bank and Insight Investment, a global asset manager responsible for managing over £580bn of assets.

Pivot has been in discussions for six months and the agreement has now been concluded with the first drawdown being made last month.

Under the terms of the facility, Pivot can deploy further capital towards loans secured against both residential and commercial assets and it can also utilise these funds towards latter stage development loans.

“Securing the new funding line from Shawbrook and Insight is testament to the hard work put in by the team, ratifies our operational abilities and shows how we have grown as a lender in the alternate finance space,” said Shahil Kotecha, CEO at Pivot (pictured above).

“The arrangement enables us to leverage the expertise of both institutions and gives us the scale we need to actively promote our offering to the market.”

Pivot is part of a wider real estate group that includes an established property developer, a digital property fund manager, a construction company and a block management business.

Using this expertise, Pivot takes a solutions-based approach to offer finance secured against a range of property assets and borrower types, as well as offering a bespoke pre-planning solution.

‘‘Pivot presents an impressive lending proposition, which we're delighted to support,” said Sarah Watts, associate director at Shawbrook.

“Not only do they have a highly experienced team with expertise in both the lending and development arenas, but they are also forward thinking in the way they utilise technology and work collaboratively with their broker network to find the right solutions for their clients.”

Jeremy Deacon, senior portfolio manager at Insight Investment, added: ‘’The partnership between Pivot and Insight is a good example of how we are continuing to support the UK speciality finance market by deploying capital via short-term lenders such as Pivot.

“We see Pivot as a firm with a lot of potential, backed by solid underwriting and great service.

“We look forward to working with them for years to come.”

The corporate finance team at ELS Law provided legal support to Pivot on the transaction.

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