Ex-Dragonfly team to launch new specialist lender

Jonathan Samuels, the founder of Dragonfly Property Finance, has announced his plan to launch a new specialist lender, Octane Capital.

The lender, which will launch in May, will be backed by Pamplona Capital Management and will focus on complex, non-standard loans that are outside the comfort zone of other lenders.

As Octane Capital chief executive, Samuels will be reunited with Mark Posniak and Matt Smith, who he has worked closely with since setting up Dragonfly Property Finance in 2009. Posniak will assume the position of managing director and Smith will be director of risk.

Tom Clark, previously head of bridging at Wellesley and senior development manager at Shawbrook Bank, also joins Octane Capital as sales director and Robert Graham, formerly finance manager at Dragonfly, will join as head of finance.

The new lender will offer residential and commercial bridging loans, medium-term buy-to-let products and development finance and will source its loans primarily through brokers and master brokers.

Samuels said: “It’s fantastic to be back in the industry and working again with some of the most respected names in specialist property finance. In Pamplona we have an exceptionally strong and experienced funding partner that will position us well from the outset and enable us to lend at will. Our focus will be on complex, non-standard loans that are outside the comfort zone of most other lenders but which we believe play to our strengths. We are certainly not here to make up the numbers.”

Nitin Bhandari, partner, Pamplona Capital Management, added: “We are very pleased to be partnering with Jonathan and the Octane Capital team, whose experience and ability in this market are second to none. I have no doubt that Octane Capital will make rapid inroads into the specialist lending sector and it will have our full support and funding to do exactly that.”

Related Articles

Have your say

Sign in to make a comment on this story.

Sign In

Text size

Desktop Site | Mobile Site