Alpha International : launches fund finance business, led by Adam Heaysman

Alpha launches fund finance business, led by Adam Heaysman

10.05.2023

Alpha is pleased to announce the launch of a new fund finance intermediary offering as part of its growing range of solutions for the alternative investment market.

The global fund finance market is sizeable and growing, with funds typically borrowing from bank and non-bank lenders via short-term revolving credit facilities in order to optimise liquidity and returns throughout key stages in their fund's lifecycles.

Accessing fund finance is typically a time-consuming and resource-intensive process, and with an eco-system of over 200 bank and non-bank lenders globally, securing the right lender on the best possible terms can be a daunting task for fund managers. Furthermore, even once a lender has been identified, the process of structuring a loan, agreeing and underwriting terms, engaging legal teams, and onboarding is significant, with management estimating that, end-to-end, the process can take over 300 man-hours per facility whilst also incurring significant costs.

Alpha's solution aims to overcome these challenges by providing borrowers with a better way to access and manage their fund financing. By leveraging the team's experience and Alpha's technology, Alpha will provide an end-to-end 'modular' service, tailored to each borrower's specific requirements. This will include matching and introducing them to the right lenders, all the way through to helping structure their ideal funding product and overseeing the execution of their facility.

Lenders meanwhile will benefit from fast access to a large and growing pool of pre-qualified borrowers and streamlined administration of their loans, with the Group already holding relationships with over 800 fund managers through its existing origination engine.

The fund finance team will operate from Alpha's new alternative banking HQ in Paddington, London and is being led by Adam Heaysman (MD, Debt Structuring) who joins the company with over 25 years' experience in private equity and fund finance, the last eight of which have been as Director and co-founder of the Fund Finance division of Raiffeisen Bank International, AG. By combining Adam's experience in fund finance with Alpha's strong track record of origination and technological innovation in the alternative investment industry, the team will provide a fund finance intermediary business that provides more effective access and administration of the fund finance market for all participants.

Speaking on the solution, Sam Marsh, Managing Director of Institutional, said:

"From our time working in the alternative investment industry, we've become increasingly aware that, whilst there is strong appetite from borrowers and lenders for fund finance, there is also considerable difficulty and complexity involved in bringing the two together. Given the diversity of borrowing needs, we also realised that it's not possible for one provider to cater for everyone adequately and independently. With that in mind, the idea of creating a solution for connecting the right borrowers with the right lenders and streamlining the entire process was born. With Adam and the team's experience in the fund finance market, combined with Alpha's scale and expertise, we're now in an excellent position to make this happen."