In this series, we ask the Precede Capital team five questions about life at Precede, their career and what motivates them.
Tell us about your role at Precede, what does your day-to-day look like?
I manage the loan portfolio for Precede. It is a varied role, a key part of which is building relationships with borrowers, co-lenders, investors and industry professionals. The role covers all aspects of the management of loans, including monthly drawdowns, site visits, compliance, consents, amendments, and monitoring and managing key risks. I also do the monthly reporting so our board and investors can track the progress of our investments. I work closely with various colleagues, including our legal and finance teams, and external experts such as project monitors, construction consultants and valuers. The loans can be complex, and they need close monitoring and hands-on management. It’s very much a team effort!
What did your career path look like before Precede?
I started in banking – first with big high street banks and then challengers, which culminated in leading the portfolio management team of a new bank, starting with a handful of small loans and helping it grow into an established player. From there I moved into real estate debt funds, where I have specialised in development finance and bridging loans. Prior to joining Precede, I built the credit and risk management function for a start-up PBSA-specialist lender. Working with highly experienced industry experts gave me an insight into one of the key parts of the living sector.
Working for such a variety of organisations has enabled me to take the best from each, to build a strong portfolio management function for Precede. We aim to combine the breadth and depth offered by the banks with the agility and commercial approach demanded by funds. We work closely with international investment banks and investment managers, who partner with us because we share their commitment to excellence in client service and risk management.
Whilst I have been in real estate for some time now, I actually started in SME and corporate lending, in front office, credit and restructuring roles, across the UK. I have been involved in lending to all kinds of businesses including care homes, hotels, bars, restaurants, manufacturers and service providers, from sole traders and start-ups to corporates and household names. This experience has helped me understand the opportunities and challenges our borrowers face, the importance of a strong and reliable supply chain, and how rewarding it is to see businesses grow and projects complete.
What is your favourite thing about your role?
The best thing about my role is the variety and the opportunity to see projects from start to finish. I get to work with and learn from real experts across various disciplines. It’s been fantastic to be involved in developments which will become landmarks for some of our biggest cities, providing high quality homes to thousands of people.
How has your past experience helped shape you in your role now?
I owe everything to the support of my wonderful family. Working in finance for many years, there have inevitably been some tough times. I have learned most from the challenges and there is always something positive to take from every experience. I hope I have become as supportive to borrowers and colleagues as others have been to me. I am proud to play a small part in the success of a great team.
Describe Precede Capital in three words
Creative, dynamic, commercial
Ben joined Precede Capital from Kinetic Capital, where he was Director of Credit. He previously worked as Director, Credit at Urban Exposure Plc and has also held roles at Pluto Finance, OakNorth Bank, Santander, Clydesdale Bank and HSBC. Ben has built a strong track record of credit underwriting, due diligence, deal execution and portfolio management of loans across the residential, hotel, retirement living and purpose-built student accommodation (PBSA) sectors.
