News
Summit Launches It's First Public Fund
Date:
30/05/2011
- Category:
Project leasing
Summit, in partnership with it's long standing business partner SQN Capital, has launched it's first SEC regulated public fund.
SQN Public Fund to be Launched Imminently
Date:
23/03/2011
- Category:
Project leasing
The SEC had granted regulatory approval for SQN and Summit to launch a public fund, which will be open to investors in the near future.
Summit continues to expanded its US business.
Date:
19/10/2010
- Category:
Project leasing
Summit has identified an opportunity to expand into a new market, funding a series of operating leases in the United States.
Nordic Coverage added by Summit
Date:
14/05/2010
- Category:
Project leasing
Summit Asset Management has addeded to it's portfolio the ability to support transactions in parts of Scandanavia.
Second Investment Fund Launched
Date:
24/04/2009
- Category:
Project leasing
Summit has launched it's second 2009 investment fund to provide additional debt and equity investment capacity for the UK and North American markets.
Summit continues to expanded its US business.
19/10/2010
Having identified a funding gap in the US marketplace during 2009 Summit Asset Management, operating in partnership with its startegic partner SGFL and using investment funds raised via its SQN Alternative Investment Funds, entered the Intermediate Bulk Container (“IBC”) financing market, writing a series of UK and US GAAP compliant operating lease transactions for assets located (and primarily) used within the United States. IBC units are used for the storage and transportation of a mixture of dry goods, seeds and bulk liquids. The units are generally acquired by mature businesses to replace a mixture of wooden and cardboard units that have traditionally been used in logistics and wholesale distribution industries. Intermediate Bulk Containers are used extensively across the United States and throughout the principal world economies.
The transactions funded so far by Summit are for compliant long funding operating leases, written with corporate entities that had been users of wooden units but were seeking to re-equip with IBC units, or to expand existing IBC fleets. The vast majority of transactions written so far are with investment grade businesses, operating global brands.
Units have been funded for use on both the American East and West coasts, with units purchased, located and operated in different tax regimes.
The initial transaction funded was for assets exceeding $24m USD in invoice value.
A series of other transactions have been written and the portfiolio continues to grow.