Since it first invested in the housebuilder (formerly Vanderbilt Homes) in 2014, Cheyne has played a significant role in supporting its growth and management team.

In the four years since Cheyne Capital recommitted to its investment, Elivia has more than doubled its number of homes.

Cheyne Capital also helped the housebuilder acquire Crayfern Homes and successfully integrate the business into the group. 

The Octopus team have a long-term strategy in place to continue Elivia’s growth, with the aim of transforming it into a £250m-turnover business, delivering over 600 design-led and sustainable homes in aspirational locations per year.

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Rob Turner of Cheyne Capital Real Estate said: “A key tenet of Cheyne Capital’s real estate strategy has been to provide flexible finance solutions to housebuilders delivering high-quality homes in areas with a severe shortage of supply. 

“This investment is a perfect example of this and the results are a testament to what can be achieved through the application of deep expertise and dedicated partnership.”

Ravi Stickney, managing partner and CIO at Cheyne Capital Real Estate, added: “We are very proud of what has been achieved in our eight-year journey with Elivia Homes. 

“This has not been an easy environment for SME housebuilders, but together, we have navigated the challenges posed by major geopolitical issues, such as Brexit, the Covid-19 pandemic and, most recently, the outbreak of war in Ukraine, and the business has emerged stronger than ever. 

“We are confident that the Octopus team will continue this strong momentum and support the next stage of Elivia’s growth. 

“We wish both them and everyone at Elivia all the best for the future.”