Travers Smith LLP has advised Atalaya Capital Management (Atalaya) on the provision of an up to £120 million revolving credit facility to TAB, a specialist real estate finance provider.
The revolving credit facility will be used to support the growth of TAB and to fund the origination of its bridging and development loans. TAB focuses on prime residential areas in London and the south of England.
Atalaya is a privately held, SEC-registered, alternative investment advisory firm, who primarily focus on making private credit and special opportunities investments in three principal asset classes – financial assets, real estate and corporate. Founded in 2006, Atalaya is headquartered in New York City and manages approximately $7 billion on behalf of a global institutional investor base.
The Travers Smith team was led by Finance Partner Charles Bischoff with support from Senior Associate Daniel Domb and Associate Adam Schnider.
TAB was advised by the financial services debt advisory team at EY, with Fox Williams LLP acting as legal counsel.
Finance Partner Charles Bischoff commented: "We have really enjoyed working with working with EY, TAB and Fox Williams on this significant transaction, as well as of course having the opportunity to advise the Atalaya team once again."
Jack Dutton, who led the transaction for EY, said: "We are delighted to have supported TAB on this capital raise. It has been an absolute pleasure working with the whole TAB team and we look forward to continuing our relationship with the business. We would also like to thank the team at Travers Smith for their pragmatic and can-do approach."