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Omni Partners set to launch fund focused on the secured property lending market in the UK

Monday, February 03, 2014
Opalesque Industry Update - Omni Partners LLP (“Omni”), the alternatives specialist set up by trading veteran Steve Clark in 2004, today announces the launch of the Omni Secured Lending Fund I LP, enabling institutional investors to directly access the short-term secured property lending market within the UK.

The fund‘s investment proposition is to take advantage of the vacuum created by banks withdrawing from short-term property lending in the UK, in order to deliver attractive risk adjusted returns. The fund focuses on the short end of the lending market whereby lenders are able to obtain an interest rate premium and demand more security in return for issuing lending decisions quickly. Addressing investor demand, the fund has been structured with a relatively short duration compared with other direct lending products. Investor funds are used to finance loans with a maximum duration of 18 months secured against both residential and commercial properties in the UK. Strict lending requirements are enforced, including a maximum loan-to-value (LTV) of 70%.

Instrumental to the fund’s operation is Capital Bridging Finance Limited (CBFL), which serves as the fund’s captive origination platform and manages the entire lending process. Steve Clark seeded CBFL in 2009 and subsequently integrated it into Omni (as a subsidiary) in November 2013. The existing senior management team at CBFL has over seven decades of experience in the property lending market.

CBFL has a solid four year track record, having underwritten in excess of £100m of aggregate lending across more than 350 discrete loans. Since October 2009 CBFL’s secured lending portfolio has produced a net compounded annual return of 12%*. The team prices for risk rather than forcing borrowers to fit pre-defined products charging fixed rates and seeks to minimise potential losses via adequate asset backing.

Omni’s Founder and Head of Risk, Steve Clark, commented: “The key characteristics of this strategy are superior asset quality, short tenor and high yield. In addition, CBFL’s track record is a hard track, delivered on actual capital whilst operating as a stand-alone company unlike the paper track records being peddled by some other new launches within the direct lending space. It is these factors that have been attracting investors to this exciting new strategy.”

*CBFL net compounded annual loan portfolio return calculated from 10/2009 to 11/2013

Omni Partners LLP (“Omni”) is an alternatives specialist investment manager founded in 2004 by veteran trader Steve Clark and headquartered in London. Omni is authorised and regulated by the Financial Conduct Authority, registered with the Securities and Exchange Commission, and is a registered commodity pool operator and commodity trading advisor subject to regulation by the US Commodity Futures and Trading Commission. The firm has approximately $700 million in assets under management and 44 employees between its London and California offices.

Omni currently manages two funds, one that follows a thematic discretionary macro strategy (Omni Macro) and one with an equity event-driven focus (Omni Event) and is imminently launching a third fund focused on the secured property lending market in the UK (Omni Secured Lending).


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