Meet The Team - Minerva
The Board of Minerva Lending PLC has ultimate responsibility for all investment decision making along with ongoing measurement of the performance of investment made. The Board utilises the Independent Credit Committee who review all loans proposed by the Collateral Manager and report to the Board on the compliance of the loans with the loan eligibility criteria of the Note Programme.
Reeves has a background in international tax and over a decade of working in corporate finance and private equity. He has specialised in large, complex cross-border transactions both from a debt and equity perspective, covering aircraft, shipping, rolling stock and yellow goods through to hospitals and power stations, with transaction history of over US$3bn. Reeves's expertise includes originating and structuring transactions through to placing equity and mezzanine debt. He has worked for Australian financial institutions covering assets, transactions and investors in the USA, UAE, South East Asia, and Europe.
Ross has over 30 years of experience as a corporate adviser in the London capital markets. He has held board positions in a variety of stockbroking business. Most recently he was on the Board of Zeus Capital during which period it underwent significant growth in revenues. Ross has experience of advising companies across a variety of sectors, strong corporate governance skills and currently acts as chairman and non-executive director to a small portfolio of private and public quoted companies
Alongside Reeves, Ross is responsible for checking the loans put forward for acquisition following review by the Independent Credit Committee as well as assisting with corporate governance responsibilities.
The Credit Committee
LNG is a London based, FCA regulated, European Credit alternative asset manager with over US$250m of assets Under Management. As the Credit Committee, LNG will report independently to the Board of Minerva on the proposed funding opportunities and their compliance with the loan eligibility as stated in the Base Prospectus. The ultimate decision on the investments that are made lies with the Board of Minerva.
LNG operates as AIFM on its existing funds with a deep understanding of the prevailing macroeconomic environment and is managed by world-class employees with blue-chip pedigrees from the likes of RAB Capital, JP Morgan, Goldman Sachs, BMO and Renaissance Capital.
The principal responsibilities of the Independent Credit Committee are:
- Review each loan to determine whether it meets the loan eligibility criteria
- Review the concentration risk of the loan book to ensure Minerva maintains a minimum diversification of more than five loans per note series
- Report to the directors on the proposed loans and whether they meet the requirements of the Programme
- The credit committee function is an activity not regulated by the FCA
The Collateral Manager
Reditum Capital has been appointed as the Collateral Manager to the Note Programme. Reditum is a leading specialist global financier that has provided more than £470m of funding facilities for real estate transactions across the UK, Europe and the Rest of the World. Reditum boasts a team of 60 professionals spanning legal, underwriting, accounting, risk management, and portfolio management functions. Reditum is not regulated by the Financial Conduct Authority.
The principal responsibilities of the Collateral manager are:
- Origination and proposal of loans to the board and credit committee
- Management of payments by borrowers under the loans
- Liaising with borrowers on loans generally and negotiating and agreeing amended loan terms when appropriate (to the extent that amendments agreed are consistent with the loan eligibility criteria).
- Applying risk management techniques to reduce the possibility of default
- Managing defaults and enforcement procedures in respect of the loans where appropriate
- Enforcing the rights of Minerva under the terms of any financial guarantee in relation to loans
- Identifying opportunities to sell loans
- Making recommendations that Minerva sells or accepts the repayment of loans
- Reinvestment of proceeds of such sale or repayment in the acquisition of further loans that meet loan eligibility criteria.
- Issuer Security Trustee: U.S. Bank Trustees Limited
- Borrower Security Trustee: Lucid Trustee Services Limited
- Stock Exchange: Main Securities Market of the Irish Stock Exchange
- Auditors: UHY Hacker Young
- Principal Paying Agent and Calculation Agent: Elavon Finance Services Limited
- Issuing Entity: Minerva Lending Plc
- Independent Credit Committee: LNG Capital LLP
- Collateral Manager: Reditum Capital Ltd