"Atalaya backing TAB and our management team not only enables us to continue lending but also to support any new growth opportunities we wish to pursue."
The revolving credit facility, of up to £120m, will be used to support the growth of TAB over the coming years and will be used to finance bridging and development loans.
TAB is a short-term property finance lender specialising in secured bridging and development finance loans. It focuses on prime residential areas in London and the south of England.
New York-based Atalaya is a privately held alternative investment advisory firm. It focuses on making private credit and special opportunities investments in three asset classes – financial assets, real estate and corporate. Founded in 2006, Atalaya manages approximately $7 billion on behalf of a global institutional investor base.
Duncan Kreeger, founder and CEO of TAB, said: “Atalaya backing TAB and our management team not only enables us to continue lending but also to support any new growth opportunities we wish to pursue. This is an exciting day in our history and will help us carry on looking after our valued broker partners.
“As well as the senior team at TAB, I’d like to thank Stuart Mogg and Jack Dutton at EY and Jonathan Segal at Fox Williams. Their efforts and expertise have been a huge support to TAB.”
Atalaya's Brian Moore said: “The senior management team - and Duncan Kreeger, in particular - know the UK’s bridging market inside out. We like their combined experience and the ethos they have created at TAB, emphasising transparency and fair dealing. We look forward to playing our part in supporting their growth in the years to come.”