BBB increases commitment to Beach Point Capital UK to £50m

The British Business Bank (BBB) has today announced an increased commitment to Beach Point Capital UK’s dedicated small and medium-sized enterprise (SME) lending fund, raising its total investment to £50 million.

This enhanced support aims to expand lending capacity for fast-growing businesses throughout the UK, with a continued emphasis on regional economic development.

The Bank originally backed the fund in July 2022. Since then, Beach Point Capital UK has deployed capital into 26 businesses spanning every region of the UK, with a particular focus on Northern Ireland, Scotland, and the North of England. Its flexible lending approach has supported business expansion, job creation, and local economic growth.

One of the key outcomes from the initial investment has been the fund’s success in surpassing its £10 million target for investment in Northern Irish SMEs. To date, it has delivered £16 million in investment and committed an additional £3 million to four high-growth businesses in the region.

“We are proud to continue our partnership with Beach Point Capital UK, which has provided vital support to smaller businesses in the UK’s Nations and regions,” said Adam Kelly, Managing Director and Co-Head of Funds at the British Business Bank.

“By increasing our commitment, we can continue to back high growth businesses across the UK, address regional imbalances and drive employment and economic expansion.”

Beach Point Capital UK plans to maintain its focus on supporting SMEs across the UK and Ireland, with an emphasis on regional markets that are often underserved by traditional lenders.

“We are delighted to receive the British Business Bank’s continued support,” said Shane Lanigan, Portfolio Manager at Beach Point Capital UK.

“SMEs are the cornerstone of the UK economy. This additional funding will help us to address the equity gap and provide flexible capital at critical moments in SMEs’ business journeys. We look forward to identifying new investment opportunities and helping budding entrepreneurs across all regions of the economy.”