No Limit Capital (NLC) is the first independent, non-bank fund finance lender, exclusively focused on providing capital call (subscription) loans to the private capital market.
NLC is revolutionising General Partners, borrowing experience by removing traditional banking constraints and introducing technology lead processes to minimise borrowers’ operational burden and legal administration.
Global demand for Capital Call financing has grown significantly over the last 10 years from a few hundred billion to over $750 billion. The growth has been driven by record-high private capital fundraising activity, as well as the majority of fund managers recognising and using capital call financing as a tool to help them improve cash management.
Banks have been instrumental in supporting market growth to date. However, over the next 5 years the private capital market is expected to double, and in turn, so will the demand for capital call financing. This coupled with new regulatory capital requirements, such as Basel IV, will put further stress on bank lending capacity which is already facing challenges to keep up with the demand.
With its institutional capital backing, NLC is uniquely positioned to support future market growth. NLC provides capital call financing solutions to UK and European focused mid to large-cap funds, managed by experienced GPs across buy out, growth, private credit, real estate, fund of funds, infrastructure, and VC strategies.
NLC was set up by Neno Raic and Slade Spalding who worked together at Investec Bank’s Funds Solution Group in London and supported by an experienced team in the market. Neno was the head of the Funds Solutions Sales and Fundraising team and in his role has raised over €3bn of third-party capital to invest in capital call loans and distributed over €4bn of Capital Call Financing to the market. Prior to co-founding NLC Slade was Co-Head of Capital Call Financing and Head of GP Financing where he originated over €4.5bn of capital call financing loans and drove the growth of the business turnover by more than 8 times.