"We see incredible potential to continue to grow the business and the loan book, especially by partnering with new sources of capital."
CPC Group has sold the entire Fortwell platform and brand to its current management team led by Dan Smith, executive director, and Arthur Jennings, head of real estate finance.
The Fortwell Capital team will continue to manage CPC’s existing loan book of around £120m and will now seek new sources of equity to further grow the business and loan book.
Fortwell has been operating since 2011 and has lent in excess of £1.2bn.
Dan Smith joined the board of the company in 2013 and since then, Fortwell has expanded across multiple sectors.
Dan said: “It continues to be a difficult market for developers to finance their projects – and as such there is significant demand for development and structured finance. That demand, coupled with Fortwell’s proven track record means we see incredible potential to continue to grow the business and the loan book, especially by partnering with new sources of capital.
“We are in discussions with a number of potential investors at the moment and are excited by this opportunity to further establish Fortwell as the real estate lender of choice in the UK.”
Christian Candy, owner of CPC, said: “Fortwell has been incredibly successful and established a strong platform and reputation as one of the UK’s most successful real estate lenders. Dan and Arthur’s aspirations for Fortwell are significant and I believe they are extremely well placed to drive Fortwell Capital forward.”