The role of apples in shaping Newton’s law of gravity is well known; their significance in the emergence of a specialist type of debt financing far less recognised. It was back in 1997 that US entrepreneur Alexander Christy Junior was struggling to come up with a way to provide finance for an apple farm in Michigan which, on the face of it, had no suitable assets to lend against.
Part of debt financing’s future is equity
Lending against listed securities is one of many speciality private debt strategies jostling for attention and poised for growth.
