The founders of Global Student Accommodation have launched a student lending platform with an initial commitment of £100m.
Former GSA chief executive Steve Grant (pictured left) and chairman Nicholas Porter have launched Kinetic Capital with seed capital for its first specialist debt vehicle, focusing on the UK and Ireland.
Kinetic Capital will offer mezzanine debt, bridging finance and preferred equity, lending against development or investment properties.
It will provide loans to building owners, developers and operators, and hopes to expand to international markets in the near future.
Grant, chief executive at Kinetic Capital, said: “Market conditions, combined with the robust nature of PBSA, present a clear opportunity for our strong team to scale the business, using its unique position to deliver significant value to both borrowers and investors.
“The business already has a strong pipeline and we are also seeing good demand from investors looking to gain exposure to a focused debt vehicle with an expert manager.”
Porter, chairman, Kinetic Capital, added: “We see Kinetic Capital as a natural extension to our core capabilities, allowing us to build upon our deep sector relationships and strengths in the market.”
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