Development lender Pivot has arranged an increase of 50% in its lending capacity from funds managed by institutional partner Foresight Group.
Consequently, Pivot will be able to continue to scale and diversify its offering to brokers and developers.
In the final quarter of 2023, Pivot secured an initial commitment from funds managed by Foresight when it was brought in to supply senior debt alongside longtime partner Quilam Capital, provider of junior capital and equity.
Pivot has completed close to £250m in transactions to date, in development and short-term lending solutions.
The lender says it is starting 2025 with a strong pipeline of business across the UK, with particular emphasis on facilities of £1m-£10m for SME developers.
Paksan Wu (pictured), capital and treasury director at Pivot, said: “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.”
