Key Takeaways
- • White Oak UK (WOUK), an affiliate of White Oak Global Advisors, plans to launch a new senior-secured private credit strategy targeting up to £1.5 billion in capital to finance UK SMEs and mid-market businesses.
- • The strategy is designed to support UK reindustrialisation, with financing for manufacturing modernisation, industrial capacity, capital equipment, infrastructure and supply chain resilience.
- • WOUK has originated over £3 billion in loans since 2018, drawing on a network that includes more than 20 bank relationships and exclusive broker-dealer and investment bank origination partnerships.
- • White Oak cites a 75% share of SMEs expecting to need external financing in the near term, against a Bank of England estimate of a £22 billion nationwide SME funding gap.
- • Traditional lenders have continued to pull back from working capital and asset-based lending, which White Oak says creates demand for flexible private capital.
Summary
White Oak UK (WOUK), an affiliate of White Oak Global Advisors, announced plans to launch a private credit strategy aimed at supporting UK reindustrialisation. According to the company's Business Wire release, the strategy will provide financing for manufacturing modernisation, industrial capacity, capital equipment, infrastructure and supply chain resilience, and is targeting up to £1.5 billion in capital.
The strategy builds on WOUK's track record financing SMEs and mid-market businesses, which the firm describes as spanning 40 years. Since 2018, WOUK has originated over £3 billion in loans. Its origination network includes direct borrower relationships, bank referral networks, advisor partnerships and government-supported lending programs. White Oak says it works with more than 20 bank relationships to receive referrals of loan opportunities that fall outside UK banks' risk appetites, and it has cross-border financing arrangements between UK and US banking partners as well as exclusive origination partnerships through broker-dealer and investment bank capital advisory channels.
The strategy will focus on manufacturing, engineering, healthcare, life sciences, aerospace and defence, and will be organised around four themes: asset acquisition and modernisation, growth and expansion, operational resilience and working capital, and infrastructure and footprint. White Oak states that its lending is predominantly senior-secured, asset-backed and originated directly rather than through competitive sponsor auctions.
White Oak Global Advisors co-founder and CEO Andre Hakkak said the firm sees an opportunity for private capital to address the long-term shift away from manufacturing toward services. Jeremy Harrison, Managing Director at White Oak UK, said the strategy would support companies investing in long-term growth across the UK. The company estimates that 75% of SMEs expect to require external financing in the near term, while the Bank of England has estimated a nationwide SME funding gap of £22 billion. The release notes that traditional lenders have continued to reduce support for working capital and asset-based lending.
White Oak Global Advisors, founded in 2007, describes itself as an alternative debt manager that has deployed over $28 billion across its affiliates, with offices in the US, UK and Australia. WOUK is authorised and regulated by the Financial Conduct Authority and is headquartered in Chester, UK.
The strategy builds on WOUK's track record financing SMEs and mid-market businesses, which the firm describes as spanning 40 years. Since 2018, WOUK has originated over £3 billion in loans. Its origination network includes direct borrower relationships, bank referral networks, advisor partnerships and government-supported lending programs. White Oak says it works with more than 20 bank relationships to receive referrals of loan opportunities that fall outside UK banks' risk appetites, and it has cross-border financing arrangements between UK and US banking partners as well as exclusive origination partnerships through broker-dealer and investment bank capital advisory channels.
The strategy will focus on manufacturing, engineering, healthcare, life sciences, aerospace and defence, and will be organised around four themes: asset acquisition and modernisation, growth and expansion, operational resilience and working capital, and infrastructure and footprint. White Oak states that its lending is predominantly senior-secured, asset-backed and originated directly rather than through competitive sponsor auctions.
White Oak Global Advisors co-founder and CEO Andre Hakkak said the firm sees an opportunity for private capital to address the long-term shift away from manufacturing toward services. Jeremy Harrison, Managing Director at White Oak UK, said the strategy would support companies investing in long-term growth across the UK. The company estimates that 75% of SMEs expect to require external financing in the near term, while the Bank of England has estimated a nationwide SME funding gap of £22 billion. The release notes that traditional lenders have continued to reduce support for working capital and asset-based lending.
White Oak Global Advisors, founded in 2007, describes itself as an alternative debt manager that has deployed over $28 billion across its affiliates, with offices in the US, UK and Australia. WOUK is authorised and regulated by the Financial Conduct Authority and is headquartered in Chester, UK.
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