Fiddich Review Centre
Alternative Investment

North American investors back alternative credit

US investment behemoth Neuberger Berman and a Canadian pension fund have both given their backing to the alternative credit space in the last month, in a promising sign for the industry as we enter a global downturn.

US peer-to-peer lending platform Prosper raised $75m (£63.1m) from a fund managed by Neuberger Berman, which it said will enable it to meet strong consumer demand for its personal loan, credit card, home equity and investment products.

Read more: Fasanara agrees €200m debt facility with Spanish fintech

And UK-based alternative asset manager Fasanara Capital – which has invested in P2P platforms such as FundOurselves – unveiled a strategic $200m deal with an unnamed Canadian pension fund.

The proceeds will be used to fund alternative finance products including working capital facilities and receivables.

Read more: FCA cancelled 201 authorisations in 2022

“This capital will help bolster our portfolio companies, by providing them with the certainty that they can access a range of financial products, should they need them,” said chief executive Francesco Filia at the time of the announcement.

“At a time when the wider capital market is experiencing such uncertainty, Fasanara’s portfolio companies know that they belong to an ecosystem which is strongly supported by some of the largest institutional investors in Europe and North America.”

Read more: P2P investor Fasanara inks $200m deal with Canadian pension fund

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