During an exclusive interview with Avamore’s four principals, Michael Dean (pictured above) said that family office money now accounts for under 50% of its loan book.
“First and foremost, we’re looking to be as competitive as possible, in terms of cost of capital.
“Traditionally, people thought family office money was cheap, and that isn’t really the case.”
A key aim for Avamore over the past four years has been to broaden and diversify its pool of capital.
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While it has secured more institutional funding, it will always maintain strong relationships with family office investors, “because if there are some situations that perhaps don’t fit institutional profiles, then we’ve got the option to fund those as well,” Michael added.
The funding lines Avamore has secured so far are allowing the lender to introduce new products, such as the ‘finish & exit’ product, at competitive rates; the lender’s family office capital means that it can also continue to work on projects which fall under the bespoke category but may not meet institutional criteria.