Business Lending announced the imminent launch of the new fund in December, which is aimed at providing stable and secure income to institutional investors. The fund will invest in medium term loan notes secured on UK commercial property, originated through its well established commercial property financing platform.

Bob Ludlow comes from a banking background gained at NatWest and Lloyds TSB over 25 years and at State Street Bank where he headed up the sale of the bank’s services to large institutional investors including fund managers, corporate and local authority superannuation funds. After leaving State Street Bank in 2003, he set up his own successful consultancy, Astor Consultancy Services, which offers specialist benchmarking facilities to superannuation funds.

Commenting on the appointment, Business Lending’s Managing Director, Stuart Parfitt, said: “We are delighted to welcome Bob to the team. His experience of the investment market and the type of institutional investors, who will find our new fund of interest, is unparalleled. Even at this preliminary stage, Bob has already elicited interest from among his wealth of investor sources.”

Bob Ludlow said: “I was attracted to Business Lending’s concept of a new credit fund as one of the most innovative initiatives I have seen because it offers investors enhanced income returns within a safe and transparent framework. I am looking forward to working with the Business Lending team and our investors over the coming weeks and months.”