White Oak UK plans to launch a private credit strategy focused on supporting UK reindustrialisation, targeting a raise of £1.5bn.
The UK lending platform, which is an affiliate of alternative debt manager White Oak Global Advisors, will finance businesses operating across key sectors of the UK economy, including manufacturing, engineering, healthcare, life sciences, aerospace and defence.
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“We believe there’s a real opportunity here for private capital to address the long-term shift away from manufacturing towards services,” said Andre Hakkak, co-founder and chief executive at White Oak.“ By leveraging our extensive origination platform and deep experience serving small and medium-sized enterprises (SMEs) , we are well-positioned to address a critical need across the UK economy.”
Overall, since 2018, White Oak UK has originated over £3bn in loans to SMEs and mid-market businesses across the country.
According to White Oak UK, 75 per cent of SMEs expect to require external financing in the near term, while the Bank of England has estimated a nationwide SME funding gap of £22bn.
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“White Oak’s broad lending capabilities allow us to structure flexible solutions for businesses underserved by traditional lenders, and this strategy will support companies investing in long-term growth across the UK,” said Jeremy Harrison, managing director at White Oak UK.
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