Goldentree’s backer launches new venture

Goldentree's backer launches new venture




B&C understands that Goldentree Financial Services' backer Fred Done is poised to launch a new venture called Salboy LTD.

B&C understands that Goldentree Financial Services’ backer Fred Done is poised to launch a new venture called Salboy LTD.

Fred Done’s new firm is going to be led by Goldentree’s Simon Ismail, who will be moving across from the development lender to Salboy.

Salboy Ltd’s activity will cover equity investment into property related transactions and it will provide 100 per cent funding for proposals.

Where development funding is required, Salboy will liaise with Goldentree to offer a full funding package and avoid the duplication of information and legal fees. Goldentree will provide a drawdown facility for build costs as well as funds towards acquisition if needed.

With the launch being on the cards since this June, Salboy will officially go live on 1st October. However, the firm already has five deals in the pipeline and other proposals are being considered.

In September, Salboy will start with a small team of two, but have full use of the staff and resources at Betfred and Goldentree.

Simon Ismail commented: “Goldentree is seeing more and more deals where the borrower’s cash contribution is being provided by an equity partner. As the property market is continuing to improve we believe there will be plenty of opportunities to partner up with experienced property professionals.

“We will provide not only the cash required to make a deal work but also our own expertise and connections should they be required.

“Salboy will concentrate on forging long standing relationships with developers and property professionals who share the same enthusiasm and drive to succeed. As always I will adopt a very personal and direct approach. It also gives clients the opportunity to work with a reputable equity partner who will provide 100 per cent funding.”

Please see the firm’s criteria below:
12 month term max
£500,000 maximum equity investment (can be geared against)
50 per cent profit share
Secured by legal charge (1st or 2nd)



 

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