Balbec Capital LP, an investment manager specialising in asset-based credit and real estate strategies, has announced the acquisition of Funding 365 | Fast Property Finance, a UK-based specialist property lender. The transaction encompasses the acquisition of the Funding 365 origination platform and its existing loan portfolio, along with newly originated loans.
The acquisition will allow Funding 365 to enhance its offering of competitive, first charge bridging, development and specialist buy to let loans. The Funding 365 management team, including Managing Director and co-founder Michael Strange and Director Paul Weitzkorn, will remain with the business and continue to lead day-to-day operations under Balbec’s ownership.
Ryan Singer, Partner and Head of Residential Credit at Balbec, said, “Owning an origination and servicing platform is essential to effectively access the UK specialist lending market at scale, and provides us with control over underwriting standards and asset selection and management. We are thrilled to expand our European real estate capabilities and to support Michael, Paul, and the entire Funding 365 team as they embark on their next phase of growth.”
Michael Strange, Founder of Funding 365, said, “The Balbec team’s credit expertise, institutional infrastructure and financing relationships, and technological capabilities will enable us to develop new products, grow our origination volumes, and serve our broker partners and borrowers even more effectively. We look forward to building on our track record together with a partner that shares our commitment to disciplined underwriting, product excellence, and exceptional service.”
