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Prestige Announces Senior Hires At Nucleus Commercial Finance

Prestige Funds is pleased to announce further senior appointments to London based Nucleus Commercial Finance, one of the specialist lending companies that constitute part of the successful Prestige Funds direct lending strategies.

Mr. Ian Bath joins Nucleus from Lloyds Bank with a 30 year track record in the field of corporate banking. He will be expanding the Asset Based Lending team at Nucleus, which provides funding lines of up to GBP 50 million.

In addition, Ms. Lee Ashton has recently joined the firm from Aldermore Bank as Business Development Manager responsible for the south and south-east regions of England on the Nucleus Finance Cash Flow Finance team.

Nucleus Commercial Finance was founded to provide UK SMEs with alternative funding options to the traditional commercial banking route. It combines the flexibility of bank platforms with the speed and transparency of Peer to Peer platforms. Nucleus initiates and manages the loans within the ‘Commercial Finance Opportunities’ credit fund; a Luxembourg registered SICAV AIFM SIF operated by Prestige Capital Management Limited.

Craig Reeves, Founder of Prestige, said: “Experienced teams with strong track records in commercial lending are at the core of a successful secured lending strategy. As we do more ‘consultative lending’ it is important that they can lever their relationships with the small businesses we lend to, ensuring a good outcome for the companies concerned, and for the investors in Prestige Funds.”

Over 1000 UK bank branches have closed in the past 2 years and recently RBS / NatWest group announced a further 250 closures (despite still being 70% owned by the British taxpayer). Additionally M4 Money figures continue to show lending to small business remains significantly lower than 10 years ago. At the same time the Alternative Investment Management Association (AIMA) recently published new research that suggests investment appetite in private debt funds will grow to over USD 1 trillion within the next two years.

Nearly 5.5 million small companies in the UK with 40-year low unemployment but with approximately 3% annual inflation and continued Brexit uncertainties all means the requirement to ‘borrow to invest’ in productivity, growth and efficiency has never been higher in recent history.