Prestige Fund Management said it raised $100 million (£80 million) in the last quarter of 2016 through investor commitments. A large proportion of these came from investors outside the UK.
The firm attributed the interest in its debt strategies to a weakening appetite for stocks and bonds. In a company announcement, Craig Reeves, founder of Prestige, noted increasing interest rates and market volatility as two reasons why investors may shy away from traditional securities. Reeves was unavailable for comment.
According to the announcement, a large amount of the commitment has come from outside the UK. In particular, the firm noted Middle Eastern sovereign wealth funds and sovereign pension funds had shown interest. Swiss foundations and corporate pension schemes were also mentioned as among those committing to Prestige.
The exact identity of the committed partners could not be determined by time of publication. The commitments from ex-UK entities shows the appetite for UK investing among external investors, despite the uncertainty surrounding the country regarding its exit strategy from the European Union, the firm said in its announcement.
Prestige specialises in providing debt financing to small- and mid-sized companies in the agriculture sector. This includes agriculture-related businesses, such as alternative energy and bio-mass projects.