Penny Blue Capital today announced its launch as an independent specialist private credit manager focused on asset backed lending opportunities across Europe.
Led by Beatrice Dupont and Paul House, alongside partner Pablo Calvillo, Penny Blue Capital builds upon a track record established over more than a decade investing across European real assets credit markets. Originally established by Paul and Beatrice within Venn Partners in 2013, the credit platform became part of ESR Group in 2020, and now launches independently as a management-owned firm.
Penny Blue Capital provides secured financing solutions across the capital structure, including senior debt, whole loans, development finance, mezzanine and other structured capital solutions. Headquartered in London, with an established presence in Madrid, the firm focuses on opportunities across Europe.
The launch comes at a time when regulatory change, bank retrenchment and ongoing dislocation in real assets capital markets continue to create attractive opportunities for specialist private credit investors. Penny Blue Capital believes these market dynamics have created a sustained funding gap across many sectors of the European real assets market, offering compelling opportunities for disciplined lenders with deep underwriting expertise.
Beatrice Dupont, Founding Partner of Penny Blue Capital, said:
“The last decade has seen significant consolidation across investment management. While scale undoubtedly has its advantages, we believe there remains a compelling role for specialist managers with deep expertise, strong alignment and a focused investment approach.
Our independence allows us to remain close to both investors and borrowers while maintaining the institutional discipline, governance standards and risk management culture we have developed over many years. We believe this combination positions us strongly for the opportunities ahead.”
Paul House, Founding Partner of Penny Blue Capital, added:
“Over the past thirteen years we have invested through the aftermath of the Eurozone crisis, Brexit, the pandemic and the recent real estate repricing cycle. Throughout that period our investment philosophy has provided value for our investors.
We focus on disciplined underwriting, capital preservation and partnering with high-quality borrowers. We believe today’s market presents an attractive opportunity for specialist lenders able to combine certainty of execution with deep sector expertise.”
The launch of Penny Blue Capital marks the next stage in the evolution of a business that combines an established track record, deep sector expertise and a commitment to delivering attractive risk-adjusted returns for investors while providing borrowers with certainty, speed and long-term partnership.
