AgFe to manage UK social housing finance group

The London-based debt advisory and asset management group has taken over the running of GB Social Housing from Trifinium.

Debt specialist AgFe has become operations manager for GB Social Housing (GBSH), a finance company which provides loans to the UK social housing sector. It replaces Trifinium Advisors, which formerly owned the business.

GBSH raises finance by issuing notes on the debt capital markets, lending the proceeds to eligible UK social housing associations on a secured basis, AgFe said in a statement announcing it had taken over the management of the business.

GBSH, whose rivals include the Housing Finance Corporation, currently has three loans and £88.9 million of notes outstanding. The company’s existing bond issue has a maturity of February 2038 and a coupon of 5.193 percent, AgFe revealed.

AgFe said the deal was consistent with its strategy to develop into a leading specialist in debt-based investing, and complemented its existing activities in trade and supply chain finance, commercial real estate, corporate, transportation, infrastructure and consumer debt.

GBSH founding director Gerhard Oberholzer moved to AgFe last April to become a partner and head of public finance.