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ELS Legal advises on £50 million lending facility

ELS Legal’s Corporate Finance team has advised innovative property lender Pivot on a new multi-million pound funding facility – securing some £50 million in additional lending capital.

Pivot’s team of cross-industry experts have financed, built and managed more than £500 million of UK property assets across 1000 projects.

The short-term property lender’s new capital comes from Shawbrook Bank, and Insight Investment, a global asset manager responsible for more than £580 billion of assets*.

The capital will allow Pivot to secure further loans against residential and commercial assets.

ELS Legal confirmed the deal, led by Partner and Head of Corporate Dan Abrams, this month. David Jacobson and Caitlin Ferguson also assisted in the transaction.

Dan said: “We are delighted to be able to assist Pivot in securing a £50 million facility to enable Pivot to expand their operations and continue funding exciting projects across the UK.

“The team were selected ahead of other major law firms and reinforces ELS Legal’s position on the corporate finance map. Our continuing expertise in this area means the department is perfectly placed to offer high-end, competitively-priced corporate and finance advice to businesses in the UK and internationally.”

*£584.9bn as at 31 December 2017. Insight’s assets under management reflects the AUM of Insight, the corporate brand for certain companies operated by Insight Investment Management Limited (IIML). Insight includes, amongst others, Insight Investment Management (Global) Limited (IIMG), Insight Investment International Limited (IIIL), Cutwater Asset Management Corp (CAMC), Cutwater Investor Services Corp (CISC) and Insight North America LLC (INA), each of which provides asset management services. Insight’s assets under management are represented by the value of cash securities and other economic exposure managed for clients.

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ELS Legal is an international law firm based in London with more than 50 partner offices across the world. As part of the Cathay Associates global legal network, we are the first choice law firm for a number of British businesses and overseas clients.

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