Caridon Kick Starts Social Housing Portfolio Expansion

LONDON, June 2, 2015 /PRNewswire/ --

Caridon Holdings LLP has closed a £50 million financing transaction with RoundShield Fund I, LP, to support its social housing portfolio expansion to 5,000 residential units within the next five years.

Headquartered in Croydon, Caridon is a specialised residential management, development and investment business established in 2009 and focused on the social housing sector in Greater London. Today Caridon manages over 700 residential units in greater London, of which approximately 400 are owned by Caridon. 

With the support of its new financial backer, Caridon has recently completed the purchase of a vacant office building in Crawley. Upon conversion to residential usage, the property will be let to social housing tenants. Caridon is also in the process of acquiring several other such properties.

Roy Ledgister of Caridon said: "There is a huge need for high quality, social housing in London and the financing package that RoundShield Partners has provided will allow us to take advantage of opportunities within this market.  This significant investment, will allow us to substantially expand our portfolio and investment platform over the next couple of years."

Dorothee Queyroux of Voltaire Financial, who advised Caridon in relation to the financing and structuring of the transaction, added: "Caridon has built its reputation by developing and managing top-quality social housing in areas of London that need it most. While the potential for this market is huge, it is a sector that has been overlooked by many investors. RoundShield Partners, with whom Voltaire Financial has an established and exclusive sourcing relationship for asset-backed special opportunities, will provide Caridon the necessary financial support to capitalize on this significant market opportunity".

RoundShield Partners LLP is an advisory firm headquartered in London founded in 2013. It advises RoundShield Fund I, LP, a discretionary fund which provides flexible capital solutions to European small and mid-cap businesses and investors. The nine investments completed to date are backed by real estate, other real assets and / or financial assets.