Macfarlanes advises Penny Blue Capital on launch as Real Estate Private Credit Manager

Macfarlanes has advised on the launch of Penny Blue Capital as an independent private credit manager focused on asset-backed lending opportunities across Europe, following its separation from ESR Europe.

Penny Blue Capital, founded by Beatrice Dupont and Paul House, provides secured financing solutions across the capital structure, including senior debt, whole loans, development finance, mezzanine and other structured capital solutions. Founded within Venn Partners in 2013, the business become part of ESR Group in 2020 and will now operate independently.

The Macfarlanes team was led by Fund Formation and Sponsor Solutions Partners Harriet Miller and Thomas French, with support from Senior Associate Emma Bailey and Associates Francesca Bird, Anaya Dhawan and Finn Marshall. Tax advice was provided by Partner Joe Robinson and Associate Vitalii Trachuk.

Partners Harriet Miller and Tom French said: “We are delighted to support Penny Blue Capital on its successful launch and future ambitions. The mandate reflects the increasingly connected nature of fund formation and sponsor advisory work, allowing us to bring together complementary expertise across our private capital practice to support clients from inception through to future strategic opportunities.”