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RM Funds invests GBP13m in Athena Healthcare Group

RM Funds, the Investment Manager of the listed specialist in social and environmental infrastructure, RM Secured Direct Lending (RMDL), has provided a bilateral GBP13 million senior secured three-year term loan facility to Athena Healthcare Group (AHG).  

The financing will support AHG in funding the construction of an institutional-grade purpose built 205 bedrooms care village in Lytham, England. The aged care scheme is expected to reach completion and start trading by early Q2 2022. This is RM Funds’ second transaction with AHG, having previously completed on a GBP7.8 million construction facility in Q4 2020. RM Funds is focused on providing investments with outcomes linked to achieving UN Sustainable Development Goals “SDG’s” and this investment offers outcomes linked to SDG 3 Good Health and Well Being and SDG 11 Sustainable Cities and Communities.  

Thomas Le Grix de La Salle, Assistant Portfolio Manager, RM Funds, says: “We have worked closely with Athena Healthcare Group over the last year and our commitment to another aged care scheme in their portfolio reflects our high degree of confidence in both the business and its management team as well as the sector. “There is an undersupply of modern purpose-built aged care accommodation across the UK which is forecasted to widen given the population of over 85 year-olds is expected to significantly increase over the next decades, which AHG is seeking to address. We continue to see a great deal of opportunities to further provide strategic funding to key social infrastructure assets across the UK.” 

Steven Wylie, Managing Director, AHG, adds: “Working with RM Funds as a partner for this project allows us to deliver an additional 205 modern purpose-built accommodation for the people of Lytham (and beyond) and their families. Furthermore, their unique bespoke approach and core knowledge of the UK aged-care sector has made this competitive funding transaction process smooth and efficient.” 

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