British Business Bank makes new £15m commitment to a separately managed account with Prefequity

Investing alongside Prefequity Credit Opportunities II LP, to which the British Business Bank has already committed £30m, this new co-investment vehicle will enable Prefequity to make larger investments into well established, profitable businesses meeting its investment criteria. Prefequity Credit Opportunities II LP is targeting a £150m final close.

Adam Kelly, Managing Director and Co-Head of Funds, British Business Bank, said: 

"Following the success of its previous fund, we are pleased to continue our support for Prefequity. This new co-investment vehicle will unlock growth for businesses in the UK’s Nations and regions, providing them with the flexible debt solutions they need to succeed and reach their full potential."

Theo Dickens, Prefequity's Managing Partner, said: 

"We are delighted our second fund is off to a strong start and immensely grateful to the British Business Bank and our other investors for backing Fund II and the SMA. We look forward to attracting more LPs in further closings with our investment philosophy that combines downside protection from senior secured loans with the opportunity to partner with high-quality management teams through our equity participation."