ThinCats, an alternative finance provider for mid-sized SMEs, has provided FIRSTavenue, a global private fund placement firm, with a multi-million refinance facility.
Founded in 2006, FIRSTavenue is a global advisory and capital placement business focused on private funds, private companies and private secondaries.
The firm was set up to specialise in private fund placement and has expanded to offer global expertise also in private corporate capital placement. FIRSTavenue is a global market leader in both private credit and private infrastructure.
The FIRSTavenue team approached ThinCats to help with the funding provision and were supported on the legal side by Hilary Platt and her team at Wedlake Bell LLP. ThinCats was supported by Harry Bengough at HCR Law.
Paul Buckley, CEO, FIRSTavenue, said: “Our debt refinancing fell at a very challenging time for both the global economy and for the credit markets. ThinCats was very much ‘open for business’ and quickly developed a firm grasp of the placement industry. They were able to offer a solution that significantly lowered our interest costs and extended our debt. FIRSTavenue is now well-positioned to benefit from opportunities created by the COVID crisis.”
Dave Sherrington, Regional Head of Sales, London, ThinCats, comments: “The team at FIRSTavenue have a long track record of operating in the market and a very good understanding of the developments in the sector. We are very pleased to have been able to support them to progress their development plans and will be watching their growth with great interest.”