Ely Place Partners Limited (“Ely Place”) is pleased to share this brief update on its range of activity and mandates completed in the first half of 2021.
As reported in May 2021, we sadly lost our friend and colleague, Gavin Mailer-Howat, following a year-long battle with cancer, and we are grateful for the many messages of condolences we have received.
We have had a busy half year on both the primary and secondary side, as reported below.
Ely Place supported its long-standing client, PennantPark, on another successful fundraising in July 2021 with the closing of the PennantPark Senior Credit Fund Levered. This was on the back of the closing of the PennantPark Credit Opportunities Fund III in December 2020 and a credit secondary transaction with Pantheon Ventures in August 2020. A link to the recent press coverage can be found here.
Ely Place was also delighted to assist with another combined mandate for its client TriSpan. In November 2020, TriSpan announced the first close on its Opportunities Fund II, and in early July 2021 they celebrated the closing of a significant co-investment deal alongside Keyhaven Capital Partners. A link to the recent press coverage can be found here.
In June 2021, Ely Place announced that it acted as exclusive financial adviser to Hohnhaus & Jansenberger Gruppe on a single asset secondary, following a strategic change of direction by an original cornerstone LP. This was a complex GP-led transaction which commenced just as the world was entering lockdown, and the Ely Place team assisted its client with securing the backing of a prominent LP which puts them in a strong position for their future fundraising. A link to the recent press coverage can be found here.
In May 2021, Daniel Roddick, Founder at Ely Place, was featured again in Private Debt Investor, covering some of the current nuances in the private debt secondaries market and its considerable potential for growth. A link to the full article can be found here.
Ely Place expects to announce further closings in credit secondaries later this year.
More broadly, Ely Place remains excited and optimistic about the rest of the year ahead and looks forward to presenting further updates as it continues to focus on providing specialist fundraising advice and helping clients fulfil their fundraising ambitions.
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