Ventiga Capital Partners and Thesis Holdings Limited
Specialist Lending


21 Jan 2025
Direct Lending provides senior debt facilities to support the refinancing of Thesis and its acquisition of Evelyn Partners Fund Solutions Limited

Our role
Our Direct Lending team has provided senior debt facilities on a sole lender basis to support the refinancing of Thesis Holdings Limited, as well as its acquisition of Evelyn Partners Fund Solutions Limited. The financing package also includes additional capital to support future acquisitions in the Authorised Fund Manager and ManCo space.
Thesis Holdings Limited is owned by Ventiga Capital Partners, J Leon Group and members of the Thesis management team, who ultimately selected our Direct Lending team to support this transaction (in a competitive financing process run by BDO Debt Advisory) due to our extensive experience in the financial services sector, proven ability to deliver bespoke financing solutions and capability to move quickly to provide financing certainty for the client.
This deal marks our first with both Ventiga and J Leon Group and furthers our credibility as one of Europe’s leading debt solutions platforms. We look forward to building a long-term partnership with Ventiga and J Leon Group, alongside working closely with the management team at Thesis.
About Thesis
Thesis Holdings Limited was established in 1974 and launched its first UK regulated collective investment schemes in 1998. Thesis Unit Trust Management Limited (or ‘Tutman’) provides independent, bespoke and flexible solutions for fund managers, managing 170 funds with over £40 billion of assets. Their role is to design and launch fund structures, and then manage them compliantly, efficiently and independently.
Working in partnership with a broad range of large, global asset servicers, Thesis Holdings Limited can offer ‘open architecture’ solutions to international fund managers. With the acquisition of Evelyn Partners Fund Solutions Limited, it will now be able to provide even greater choice, as well as expand its service offering to include Fund Administration services. Furthermore, it will introduce greater scale for Thesis Holdings Limited, with EPFL managing 161 funds with over £10.6 billion of assets.
The acquisition of EPFL is subject to customary regulatory conditions and is expected to complete in the first half of 2025.
About Ventiga Capital Partners
Founded in 2015, Ventiga Capital Partners is a European private equity firm investing in profitable growth companies with superior business expansion potential in the B2B services space.
Ventiga primarily invests in control or joint-control positions mainly in the Nordic region, UK & Ireland and the DACH region, focussing on the software, data, and analytics segments which provide value-enhancing solutions that enable end-customers to increase their revenue, profitability and operational efficiency in a demonstratable manner. The firm targets growth capital, management buy-out and buy-in deals, deploying €20 – 60 million per investment.
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