ST. PETER PORT, Guernsey--(BUSINESS WIRE)--Tenn Capital Limited (“Tenn Capital”), the short-term lender, has announced a funding facility and JV partnership with funds advised by Elliott Advisors (UK) Limited and its affiliates (together “Elliott”). Elliott will provide funding of up to £300m to build Tenn Capital’s proposition.
Tenn Capital offers short-term loans secured against UK and selected international residential real estate, allowing borrowers to access liquidity quickly. The firm focuses on high-value loans and complicated lending scenarios. The new facility provided by Elliott will allow Tenn Capital to deliver its lending mandate on a global scale.
Matt Watson, CEO of Tenn Capital, said:
“We are delighted to announce this joint venture with one of the most formidable names in global finance. Working with Elliott, Tenn will bring fresh capital to the sector. We received funding offers from a range of potential partners but it was so important that we found a partner who understands our vision, lending appetite and attitude to risk. In Elliott, we have absolutely found that and we are delighted to be working with them to accelerate our lending proposition.
I am proud of our team for building the infrastructure of Tenn Capital in such a short timeframe. Signing this agreement is vindication of the robustness of our systems, processes and credit that will power the engine of Tenn Capital for years to come.”
Nigel Le Quesne, Chairman of Tenn Capital, said:
“This is a significant moment in the development of the Tenn Capital offering and it is a testament to Matt’s stewardship and the hard work of the rest of the team that this opportunity has presented itself so early in the evolution of the business.
We are now in a position to deploy capital in several scenarios where the more traditional lenders do not have the appetite to service, providing a vital lifeline to legitimate clients who have been under served in the past by the established institutions.”
Notes to Editors:
About Tenn Capital
- Tenn Capital is a new lender which offers short term loans secured against residential real estate for high-net-worth borrowers and complex transactions.
- Tenn Capital offers finance in the UK, offshore and in select international locations where the borrower requires fast liquidity to respond to a problem or opportunity.
- Tenn Capital offers short term loans from £1 million up to £20 million secured against prime residential real estate.
The company was founded in 2021 by
- Matt Watson, former Managing Director of Sancus
- Islay Robinson – CEO of Enness Global Mortgages
- Hugh Wade-Jones – MD of Enness Global mortgages
- Nigel Le Quesne – CEO of JTC PLC
- Although technically a start-up, Tenn Capital’s founding team have significant international experience in real estate, finance, and corporate services.
Elliott Investment Management L.P. manages approximately $48 billion in assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.