Investec Asset Finance plc (IAF) today announces the launch of a new specialist container box finance offering, led by Keith Glasscoe, as it seeks to build a significant portfolio in the asset class.
Keith has more than 25 years’ experience in the Asset Finance sector and joined Investec six months ago with a mandate to originate larger sized deals with high quality corporate credits. Before joining Investec, Keith held senior positions at Barclays and Bank of Scotland including leading the Structured Transport Finance team at Bank of Scotland for 10 years.
The team will build on the work of Investec’s Shipping and Marine Finance team who recently announced the provision of a $180m facility to finance an 18 strong fleet of offshore support vessels for RKOffshore.
Mike Francis, Head of Asset Finance at Investec, said: “I’m delighted that Keith has agreed to lead this initiative. Container financing marks the next stage in the diversification and growth of Investec’s asset finance business as we seek to meet the financing needs of brokers and their clients.”
Keith Glasscoe said: “Approximately $4bn of containers from the global fleet are replaced every year while their long useable lives make them perfect candidates for leasing and a great opportunity for Investec. I am looking forward to developing this new offering alongside Investec’s other shipping and marine finance activities.”
About Investec Asset Finance
Investec Asset Finance plc (“IAF”) provides asset and loan finance across a broad spectrum of asset classes to UK businesses including SMEs, corporates and professional firms.
IAF offers specialist finance introducers a broad product range that includes fixed and minimum term hire, standard leases, masterlease, hire purchase, commercial and practice loans, and block discounting.
Its comprehensive end-to-end service is run from a single business platform, providing an integrated, efficient and cost effective solution to high volume transaction management. Cutting edge data links provide brokers with instant proposal submission, and real-time access to agreement status updates.
IAF forms part of Investec Bank plc’s Corporate & Institutional division which has expertise in Structured Asset, Project and Infrastructure Finance and Treasury Management skills. Working together and combining the range of skills, enables the team to address the most complex financing challenge, whilst also delivering efficient and tailored solutions to the smallest and simplest asset funding.
Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services. Investec focuses on the following activities: Asset Management, Private Wealth, Property Activities, Private Banking, Investment Banking and Corporate & Institutional Banking.