2025 readiness: Autumn Budget insights, business banking milestone, and NAV financing solutions
Hi there,
We’re excited to share our latest newsletter, brimming with insights, updates, and events to support your business in finishing the year off strong and planning for the road ahead.
First up, our Autumn Budget analysis provides a comprehensive look at the government's recent policy shifts, focusing on impacts for residential developers, investors, and SME housebuilders. Then, we're diving into how Net Asset Value (NAV) financing is helping private equity firms tackle liquidity challenges, especially in a slower market environment.
This month, we’re marking OakNorth Business Banking’s first anniversary with a special in-person event on 21 November – a chance for you to meet our team, connect with other business leaders, and preview what’s ahead for 2025. Plus, we’re hosting a webinar with DealsPlus on optimising PE fund operations – more details below.
Discover the incredible journeys of businesses we've recently supported: STOREX Self Storage, full-service digital marketing agency, Croud, and a new joint venture between Dukesmead Property Group, Kyte Property and returning customer, Grosvenor Hill.
Finally, don’t miss the opportunity to refer businesses through our Business For Good programme. Anyone can refer a business to OakNorth Business Banking and drive change with a £300 charity donation – details below.
If you're ready to take your business growth to the next level, simply reply to this email, and let’s discuss how OakNorth can help.
LATEST UPDATES
The 2024 Autumn Budget: Laying the foundations for resi reform
The Chancellor’s Autumn Budget introduced significant reforms that could reshape the UK residential sector - from affordable housing support to planning reform and incentives for the Build-to-Rent sector. Find out what these changes mean for developers, investors, and SME housebuilders navigating a rapidly evolving market.
Beyond distributions: How NAV financing is addressing liquidity challenges in private equity
While not new, Net Asset Value (NAV) financing is gaining traction as a more robust tool for liquidity generation in private equity, especially in an environment where traditional sources of liquidity—such as IPOs and M&A—have slowed considerably. Discover more about how NAV financing is evolving to address market challenges.
UPCOMING EVENTS
To celebrate OakNorth Business Banking’s first anniversary, we’d love for you to join us in our office on Thursday, 21 November, for an evening of conversation and connection. It’s an opportunity to meet the OakNorth leadership and business banking teams, network with other business leaders and learn about the features we have planned for next year.
Event details
When: Thursday, 21 November, 6pm - 8pm
Where: OakNorth office (57 Broadwick St, Carnaby, London W1F 9QS)
Food and drinks will be provided
Are fragmented data processes costing your private equity fund time and value?
Join us on Wednesday, 20 November at 12pm for a webinar on how digitising complex PE investment structures can unlock greater efficiency and streamline key workflows. Senior Director here at OakNorth, Dan Haxby, will be joined by experts from DealsPlus, EY, and IK Partners, to share insights into future-proofing your fund operations.
£2.25m loan to a new joint venture between Dukesmead Property Group, Kyte Property and Grosvenor Hill
We were pleased to provide a £2.25m loan to a new joint venture between Dukesmead Property Group, Kyte Property and returning customer, Grosvenor Hill. The loan will be used to acquire a former NHS Health Centre in Bedfordshire, and convert it into a new supported living scheme, consisting of 18 one-bedroomed flats.
£30.2m loan for self-storage provider, STOREX
We are thrilled to provide a £30.2m loan to STOREX Self Storage, a business backed by EQT Group, to develop two new premium self-storage sites in Sunbury and Cricklewood. These cutting-edge facilities will offer an app-based entry system and a combined 2,421 units, ranging from 16 to 300 sq. ft.
£77.6m club loan for global, full-service digital marketing agency, Croud
Following an initial £34m club loan earlier this year, we were delighted to partner with HSBC, Investec and Barclays on a £77.6m club loan for global, full-service digital marketing agency, Croud. The loan will help fund ECI Partners’ majority stake in the business, enabling Croud to expand through further acquisitions and organic growth.
QUOTE OF THE MONTH
"Our relationship with OakNorth goes back several years, and we knew they would be the ideal funding partner to support our first JV project, given their impressive track record and knowledge of the UK’s social care sector.”
Dion Michael, Director of Grosvenor Hill