Lender agrees deal for extra £100m funding

Ashby-based lender ThinCats has extended its partnership with global asset manager Insight Investment, which has agreed to allocate a further investment of up to £100m from its funds under management.

The new capital follows an earlier participation from Insight Investment managed funds in September 2018. Insight Investment’s managed funds are part of a panel of senior investors, including Barclays and Citi, which is deployed alongside ThinCats’ own capital.

Shaheer Guirguis, head of secured finance, Insight Investment: “Insight has partnered with ThinCats for more than three years and seen it grow from strength to strength. During this time, and despite the substantial economic impact caused by the Covid pandemic, our investment capital has continued to provide valuable support to UK SMEs while delivering good risk-adjusted returns to our investors. We are delighted to be continuing our relationship through this further investment of £100 million.”

Ravi Anand, managing director, ThinCats: “The relationship between ThinCats and Insight Investment has been a successful one, and we are pleased to be extending the partnership in this way. The new investment will provide much needed additional support for mid-sized SMEs as they invest in their post-pandemic growth strategies. Adding this new investment to the existing capital of our investor panel, alongside our own funding, means we have £650 million currently available to deploy in support of businesses across the UK.”