westbrooke
dynamic opportunities UK
A debt-led approach to UK private equity investing
- Overview
- Investment highlights
- Track record
- Who should invest
- Investment team
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fund overview
Providing bespoke debt-led financing solutions to a range of UK lower-mid market companies alongside best-of-breed partners, Westbrooke’s Hybrid Capital platform offers investors the ability to generate an asymmetric risk / return profile, by participating in debt financing transactions whilst retaining equity upside participation potential.
Through the favourable negotiating position of being a key funder, Westbrooke is often able to participate in a businesses’ inherent upside by negotiating an element of equity upside. This can take the form of preferred equity, equity warrants, direct equity co-investments or a combination of these instruments.
Investors benefit from a debt-led approach to UK lower-mid market private equity investing. Target investor returns comprise a blend of annual cash yield, accrued yield and potential equity upside in the underlying businesses.
Fund I
Launch date 2022 Total committed capital GBP42M Fund type Open-ended Jersey Expert Fund Regulation Jersey Financial Services Commission and Prospectus registered with the South African CIPC Number of transactions 7 Run rate IRR 15% p.a.
(Net of all fees and costs)Current dividend yield c.8% p.a. -
key investment highlights
A debt-led approach to UK private equity investing
Vintage fund, targeting a reduced 18-month deployment period before the next vintage is raised
Contractual revenue streams with debt-like protections and potential upside participation through equity warrants / co-investment
3 – 5 year target investment duration with no re-investment right
Targeting an interest rate linked investor IRR of 15%+ p.a. (net of all fees and costs)
Diversified portfolio targeting 8 – 12 investments across the UK
Target interest rate linked contractual income of 12%+ p.a. in GBP* (including a 6-8% cash dividend p.a. once fully invested)
Fund investors of £2m and above enjoy the exclusive first right to co-invest in any transaction which is too large for the Fund
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track record
Westbrooke has been actively investing in the UK LMM market since the establishment of our UK business in 2017. Since then, we have arranged and invested approximately £600m across 200+ private transactions in and around the UK. These transactions have been offered to investors primarily though our Westbrooke Yield Plus secured private debt platform, which currently manages in excess of £150 million of third party and shareholder capital.
Westbrooke began investing in UK hybrid capital transactions in early 2020. We have since arranged and invested in £200m+ of facilities to the UK LMM across 14 transactions, with Westbrooke funding a total of c.£80m across debt, preferred equity and equity in a variety of sectors on a co-investment basis.
Westbrooke’s Dynamic Opportunities UK Fund I has been in operation for over 2 years and is fully invested into a portfolio of 7 businesses in and around the UK. The Fund has already returned c.25% of investor capital and is currently tracking a 15%+ IRR (net of all fees and costs) in GBP (including a dividend yield of c.7.5% p.a.).
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who is this fund best suited for?
Investors seeking a blend of semi-annual cash flow and capital growth
Investors seeking offshore diversification and hard currency returns
Medium term (3-5 year) investment horizon
Moderate risk profile, with the typical protections of second-charge senior/mezzanine debt
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investment team
The Westbrooke Dynamic Opportunities UK team is a group of investment professionals known for their expertise across multiple sectors, asset classes, and capital structures. With a strong reputation in the UK market, the team’s approach and proven capabilities make them a preferred partner to borrowers.
Under the leadership of Richard Asherson and Warren Brockway, the team focuses on structured and acquisition finance. Their experience empowers them to invest across the capital stack, with a strong ability to navigate complexity.
Committed to delivering exceptional results, the team blends deep market knowledge with a hands-on approach, ensuring investments create meaningful value for both investors and partners.
Warren Brockway
Kieran McKenzie
Richard Asherson
Adam Uria
This page is for information purposes only and is not intended to constitute advice in any form. Any terms contained are indicative only and returns are not guaranteed. This page is not a prospectus, a prospectus for this Fund has been registered with the CIPC, and this offering is subject to the terms and conditions in that prospectus which can be obtained here.
This page does not constitute an offer to sell, or a solicitation of an offer to buy, in any jurisdiction in which such offer of solicitation to sell would be unlawful.
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