Castlelake, L.P. (“Castlelake”), a global alternative investment manager specializing in asset-backed private credit with 17 years of experience investing in asset-rich opportunities, and fintech lender TradeBridge, today announced Castlelake has agreed to provide a facility of up to £100m to TradeBridge. Alongside existing senior banking facilities, the additional funding is expected to further strengthen TradeBridge’s position in the revenue-based finance space.
The financing, provided by Castlelake as part of its income investing strategy, is also expected to accelerate TradeBridge’s expansion in the UK healthcare sector, where TradeBridge already provides a form of revenue-based finance to National Health Service pharmacies and dental practices across the UK, seeking to help them improve their working capital position and better serve their communities.
“We look forward to leveraging our experience in revenue finance to support TradeBridge’s origination growth goals,” said Isaiah Toback, Partner, Deputy Co-chief Investment Officer at Castlelake. “And we believe our partnership will help provide an innovative solution to vital healthcare providers while delivering value for our investors.”
“We’re delighted to announce a new relationship with Castlelake. TradeBridge is passionate about supporting entrepreneurial businesses to meet their growth ambitions,” said Mark Coxhead, CEO of TradeBridge. “Castlelake’s support will be instrumental as we continue to deliver more innovative working capital solutions to more clients.”
Castlelake has completed over $4 billion of specialty finance investments since 2015. Recent transactions include an agreement to provide credit to a tech-enabled trade financing platform and a partnership establishing a new commercial lending platform for small and medium-sized businesses. Its specialty finance activity has also included acquiring or financing more than 3,500 commercial and industrial loans and over 5 million consumer receivable accounts.
Castlelake, L.P. is a global alternative investment manager focused on investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $20 billion of assets on behalf of its investors. The Castlelake team comprises more than 200 experienced professionals, including 90 investment professionals, across seven offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.
Fintech lender TradeBridge was founded in 2013, by three friends with backgrounds in finance and technology. Today, TradeBridge has provided over $3B of revenue-based finance to entrepreneurial business leaders around the world and is present in London, Paris, Shanghai, Singapore, and Sydney.