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Specialist Lender Launches With £100m

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

A new specialist lender in the purpose-built student accommodation (PBSA) market has launched with an initial £100m seed capital.

Kinetic Capital is led and co-founded by Steve Grant and Nicholas Porter, who were chief executive and founding chairman of the Global Student Accommodation Group.

The UK-based company will focus on the UK and Irish markets, with plans to expand internationally in the near future.

According to Grant, the newly launched company already has a strong pipeline and are "seeing good demand from investors looking to gain exposure to a focused debt vehicle with an expert manager."

Steve Grant, chief executive, Kinetic Capital, said: "As the only specialist PBSA lender, Kinetic Capital has an unrivalled ability to assess and underwrite PBSA transactions. The business already has a strong pipeline and we are also seeing good demand from investors looking to gain exposure to a focused debt vehicle with an expert manager."

"The resilience of higher education continues to underpin the PBSA market, providing for strong demand and growth in the sector. Investor appetite for secure, high yielding revenue streams supported by the growing global student population, translates to a positive outlook."

"Market conditions combined with the robust nature of PBSA, present a clear opportunity for our strong team to scale the business, using its unique position to deliver significant value to both borrowers and investors."