03. December 2018
Kvika, and its subsidiary in the UK, have concluded a GBP 12.5 million increase in funding for the British investment company OSF II. The total funding for the company now amounts to GBP 30 million, which is equivalent to approximately ISK 5 billion. The number of investors in OSF II now amounts to over 90 and consists of Icelandic pension funds, financial undertakings and numerous other domestic and foreign investors.
OSF II invests in property-related bridge loans in Britain and Northern Ireland, a market that has been rapidly growing in recent years and currently amounts to GBP 5 billion. OSF II is managed in cooperation with a highly experienced team at Ortus Secured Finance, a property-secured lending company which was founded in 2012.
Gunnar Sigurðsson, the Managing Director of Kvika in the UK:
The operations of OSF II have been going well since the company was founded at the beginning of 2018 and investors’ returns have been in line with expectations. The increased funding now is a direct continuation of those good results. Many of the current investors participated in the increase, but many investors are also joining in for the first time, which is further confirmation of our customers’ great interest in attractive investment opportunities. The development of Kvika’s activities in the UK has been progressing well and the project status is strong. We are therefore optimistic about being in a good position to continue offering customers of Kvika interesting investment options in the UK in the coming future.