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TowerBrook creates commercial lending institution

TowerBrook Capital Partners is leading the creation of a new independent commercial lending institution called Haymarket Financial.

Public Sector Pension Investment Board and Omers Private Equity are investing alongside TowerBrook in this transaction.

HayFin will be headquartered in London and funded entirely by permanent equity capital of approximately USD700m.

The management team believes that the supply of credit, particularly to mid-sized companies in Europe, will remain disrupted for some time. HayFin intends to take advantage of the structural changes in the market to establish a lending business and will provide capital for growth and acquisitions as well as debt refinancing and balance sheet restructuring. 

The team is led by Tim Flynn, chief executive, Steven Zander, chief investment officer, and Jeff Sockwell, head of direct lending.

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