23 December 2015Pollen Street Capital completes listing of Honeycomb Investment Trust

Pollen Street Capital is proud to announce the admission of Honeycomb Investment Trust plc ("Honeycomb") to the Specialist Fund's Market of the London Stock Exchange, raising gross proceeds of £100m.

Honeycomb is a specialist lending fund, managed by Pollen Street Capital, which seeks to provide shareholders with an attractive level of dividend income and capital growth through the acquisition of interests in loans made to consumers, small businesses and other counterparties in specialist lending market segments which are underserved by mainstream lenders.

Honeycomb will seek to enhance returns further through selected investments in companies which are aligned with the Company’s strategy, such as brokers and originators of loans and strategic providers of data related to consumers and small and medium enterprises. The Company targets asset returns of 10%+ weighted average yield after losses, and dividends of 8% on issue price when fully invested and levered, payable quarterly.



07 October 2015Pollen Street Capital invests in Validis Holdings Limited

Validis Holdings Limited (“Validis”), a newly formed company backed by Don Robert and Pollen Street Capital are pleased to announce the acquisition of business and assets of Future Route Limited, trading as Validis.

Validis is the revolutionary and industry-first financial data transmission software, that’s empowering global accountancy firms, financial institutions and commercial businesses. Following the transaction Validis will continue to develop its market leading software and support its global base of existing customers including Deloitte, Bibby Financial Services and Verus 360, and will expand its offering into new geographies and customer groups.

The transaction will see Validis receive new investment from a consortium with significant experience and expertise in the international financial services sector, led by Don Robert, Chairman of Experian PLC and member of the Court of Directors of the Bank of England, and Pollen Street Capital which has invested over £1.2bn in a wide range of businesses across all stages of development and whose recent financial services investments include Shawbrook Bank PLC, Arrow Global PLC, Moneycorp and Banca Sistema.

02 April 2015Shawbrook Bank lists on London Stock Exchange

Pollen Street Capital is delighted to announce the successful pricing of the initial public offering of Shawbrook Bank, the rapidly growing specialist lending and savings bank, which has been under majority ownership of funds advised by Pollen Street Capital.

Shawbrook is a rapidly growing UK specialist lending and savings bank serving businesses and consumers in selected markets, offering a fresh, pragmatic approach to lending and savings based upon traditional values of respect, care, good sense and thoughtful judgement. Shawbrook was established by Management and the Pollen Street Team in January 2011 with the acquisition of Whiteaway Laidlaw Bank (“WLB”) from the Manchester Building Society. The Pollen Street team worked closely with management to identify opportunities in markets where it has demonstrable expertise and long-standing relationships to enable it to provide good products to customers while earning attractive risk-adjusted margins. Today Shawbrook offers a range of lending products across Commercial Mortgages, Asset Finance, Business Credit and Secured and Consumer Lending and uses a relationship-driven approach to build and maintain a deep understanding of the customer’s business and provide prompt and expert underwriting to meet their requirements.

Based on the Offer Price of 290p per share, the market capitalisation of the Company was approximately £725 million on admission. Immediately following admission Pollen Street Capital will continue to be represented on the board of Shawbrook Group.

Commenting on today’s announcement, Lindsey McMurray, Managing Partner of Pollen Street Capital and Non-Executive Director of Shawbrook Group said:

“We are delighted that the initial public offering of Shawbrook bank has been successfully received by investors and congratulate Richard Pyman, his management team and all of the Shawbrook employees for their continued work in building a rapidly growing and profitable bank. We are excited to continue to be a large shareholder in the Company as it enters the next phase of its development. Shawbrook exemplifies the Pollen Street investment philosophy that by backing specialist businesses in the financial services industry, and through focusing on traditional customer focused values of respect, care, good sense and thoughtful judgement, future industry leaders can rapidly establish themselves as credible competitors to the large high street banks ” 

12 March 2015Shawbrook Bank announces its intention to float

Shawbrook Bank has today announced its intention to float on the London Stock Exchange. A copy of the announcement with further details are available on Shawbrook's website.