Cordet appoints ex-Lloyds director

Chris Birt will join from Lloyds, where he led the bank’s leveraged finance team. He will start working at Cordet in September.

London-headquartered Cordet Partners has confirmed Chris Birt, a director at UK bank Lloyds, will join the firm in September.

Birt will join the firm as an investment professional after spending 14 years at Lloyds. He heads the bank’s acquisition finance pool and leveraged finance team, where he is responsible for originating and structuring mid-market senior loans.

Welcoming his appointment, Cordet co-founders Jakob and Magnus Lindquist said: “With extensive experience in UK mid-market lending, Birt will add significant firepower to Cordet’s UK origination and execution capabilities.”

In April, the firm held a first close on its debt direct lending fund, titled Cordet Direct Lending, after raising €200 million from institutional investors based in the Nordic region and Western Europe. The firm has a hard-cap of €600 million and primarily provides senior secured loans with ticket sizes ranging between €5 million and €30 million.

Notable investors in the fund include the British Business Bank, a government-owned entity set up in 2013 to provide finance to UK-based small and medium-sized enterprises. The BBB invested £30 million.