SME CREDIT REALISATION FUND LIMITED

Description

Incorporated in 2015, SME Credit Realisation Fund Limited, formerly Funding Circle SME Income Fund Limited, is a Guernsey-based closed-ended investment company incorporated with liability limited by shares under the Companies (Guernsey) Law, 2008. The company is managed with an aim to realise all assets in the portfolio in a prudent manner to achieve a balance between enhancing the value from the realization its investments and delivering returns of capital to shareholders. The company’s objective is to deliver sustainable and attractive level of dividend income to its shareholders by focusing its investment in Credit Assets originated both directly through the platform operated by Funding Circle and indirectly. The company seeks for the Funding Circle platform as a leader in the growing direct space to small and medium sized businesses with scale of origination volumes, established infrastructure and expertise in accurately assessing loan applications. The company mainly invests in UK, US and Central Europe across Property & Construction, Wholesale & Retail, Professional & Business Support, Manufacturing and Engineering, IT, Telecommunication, Healthcare, Hospitality & leisure, Automotive, Transport & Logistics, Administrative and support activities and other. The company’s shares are traded on the London Stock Exchange as LON: SCRF.

In order to implement the managed wind-down the company will follow its investment objective and policy to achieve its objectives. It will realize all its investments, which will comprise natural amortization of its investments in Credit Assets and will potentially opportunistic portfolio sales. It will not allocate new capital to Credit assets, directly or indirectly through leveraged transaction or Special Purpose Vehicles (SPVs) or maximize the value of any existing investments undertake capital expenditure except when necessary in the reasonable opinion to protect or to facilitate orderly disposals. Further, if the company receives any cash as part of the realization process before distributing it to its shareholders will be kept by the company as cash equivalent and/or cash on deposit. In the financial year 2021 the company’s indirect investment in Credit Assets included Basinghall, Tallis and EIB SPV.