TAB secures funding from New York investment firm Atalaya

TAB has obtained a new funding line of up to £120m from Atalaya Capital Management.

New York-based Atalaya focuses on making private credit and special opportunity investments in financial assets, real estate and corporate, and manages approximately $7bn (approx. £5bn) on behalf of a global institutional investor base.  

The revolving credit facility from Atalaya will be used to support the growth of the specialist lender and to finance its bridging and development loans.

The news follows the short-term finance provider receiving additional capital from a global private equity firm in September 2021. 

“Atalaya backing TAB and our management team not only enables us to continue lending, but also supports any new growth opportunities we wish to pursue,” said Duncan Kreeger, founder and CEO of TAB (pictured above).

“This is an exciting day in our history and will help us carry on looking after our valued broker partners.”

Brian Moore, principal at Atalaya, added: “The senior management team — and Duncan Kreeger, in particular — knows the UK 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.”

TAB was advised by the financial services debt advisory team at EY, while London solicitors Fox Williams LLP provided legal advice.

Stuart Mogg, associate partner of corporate finance at EY, commented: “We are delighted to have supported TAB on this capital raise. 

“It has been an absolute pleasure working with the whole TAB team, led by Duncan Kreeger and Kobi Lehrer [chief strategy officer]. 

“We look forward to continuing our relationship with the business.”

Jon Segal, the head of fintech and alternative finance at Fox Williams, stated: “We’re delighted to have helped secure this landmark facility for TAB, which will provide the bedrock of its continued growth. 

“The TAB management team and EY advisory team were a pleasure to work with and really showed their quality during this transaction. 

“It was also fantastic to work opposite the Atalaya team again who have demonstrated their commitment to the UK market.”

In January, TAB created a hot desk base for brokers in its new office in Borehamwood. 

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