Fund-manager lending partnership
Castle Trust provides the balance sheet and earns a preferred hurdle (7% bridging / 6% term). Redbourne Capital sources, underwrites and manages the lending, powered by GUMO — earning arrangement fees plus a share of the margin above the hurdle. As the book scales, Redbourne's share steps up — aligning us with your growth.
Illustrative — edit to match Castle Trust's actual pricing and cost of funds.
Split of margin above Castle Trust's hurdle — Redbourne's share grows as the book scales.
| Annual, £/yr | Total | Castle Trust | Redbourne |
|---|---|---|---|
| Interest income (borrower) | — | — | — |
| Castle Trust hurdle (preferred) | — | — | — |
| Margin above hurdle | — | — | — |
| Management fee (% of book) | — | — | — |
| Arrangement fees (on originations) | — | — | — |
| Total per year | — | — | — |
| Effective yield on CT capital | — |
How it reads: Castle Trust earns its hurdle on every pound deployed plus its share of the upside — an effective yield above the hurdle with the same secured, first-charge risk. Redbourne earns the arrangement fees and its carry share, and is incentivised to deploy more (the split moves in our favour past £250M and £750M). Arrangement fees annualised on originations = book ÷ average term. Figures illustrative; edit the assumptions above. Cost of funds is assumed inside the hurdle.
Standing book grows £250M each year to £750M by year 3. Because ~12-month bridging recycles, cumulative lending written ≈ £1.25bn. Uses the assumptions above.
| Per year | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Standing loan book | — | — | — |
| Carry tier (CT / RB) | — | — | — |
| Castle Trust return | — | — | — |
| CT effective yield | — | — | — |
| Redbourne — management fee | — | — | — |
| Redbourne — arrangement fees | — | — | — |
| Redbourne — carry | — | — | — |
| Redbourne total / yr | — | — | — |
The plan: £250M → £500M → £750M standing book, ~£1.25bn written cumulatively over three years. Management fee 0.5% of book (vs a typical ~2% fund fee), paid quarterly in advance. You have the platform; we bring the tools, the distribution and a unique product — the target is realistic together.
How many maturing-loan leads you work each month to deploy each year's target. Drag the two levers.
| Annual target | Deals / yr | Leads / yr | Leads / month |
|---|---|---|---|
| Year 1 · £250M | — | — | — |
| Year 2 · £500M | — | — | — |
| Year 3 · £750M | — | — | — |
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