Penny Blue Capital has launched as an independent specialist private credit manager focused on asset-backed lending across Europe.
Founded by Beatrice Dupont and Paul House, alongside partner Pablo Calvillo, Penny Blue will invest in the European real assets credit market.
Penny Blue was originally founded within European investment manager Venn Partners in 2013 and became part of Asia-Pacific real estate manager ESR Group in 2020. It will now operate independently.
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“The last decade has seen significant consolidation across investment management,” said Dupont. “While scale undoubtedly has its advantages, we believe there remains a compelling role for specialist managers with deep expertise, strong alignment and a focused investment approach.”
The firm will provide financing across the capital structure, including senior debt, whole loans, development finance, mezzanine finance and other structured capital financing.
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“Our independence allows us to remain close to both investors and borrowers while maintaining the institutional discipline, governance standards and risk management culture we have developed over many years,” Dupont added.
Macfarlanes advised Penny Blue on its launch as an independent manager.
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