The European market is in need of new sources of capital and Sandton is well equipped to play a meaningful role in the process of bank deleveraging and corporate restructuring.
London, UK (PRWEB) September 13, 2012
Sandton Capital Partners, a US-based firm focused on alternative credit investments, today announced the opening of a new office in London, headed by Tim Vieth.
Founded in 2009 by Rael Nurick and Tom Wood, Sandton purchases under-performing and non-performing loans from banks and non-bank financial institutions, with a focus on loans to small and middle market businesses. These loans are most often secured by business assets such as accounts receivable, inventory and equipment (e.g., aircraft, ships, heavy machinery). Sandton also provides credit directly to businesses facing operational and financial challenges. The firm is headquartered in New York City, with additional US offices in Los Angeles and North Carolina.
Prior to joining Sandton Capital, Mr. Vieth was a member of the Corporate Debt and Risk Solutions Group at The Royal Bank of Scotland (RBS). At RBS, Mr. Vieth originated debt financing for the bank’s clients in Europe, the Middle East and Africa. At Sandton, he will focus on sourcing, underwriting and managing new credit investments throughout Europe.
Rael Nurick, founding partner of Sandton said, “We have been active in Europe for 18 months and our firm’s strategy has been very well received to date. Tim, with his thorough grasp of illiquid credit markets and strong relationships in the financial sector, is the perfect choice to broaden and deepen our activities there.”
Tom Wood, also a founding partner of Sandton said, “Given the challenges facing European credit markets, we believe that Sandton can be a valued source of liquidity for deleveraging banks and borrowers facing financing difficulties. We are very fortunate to have Tim on board to guide and expand our business in Europe.”
In speaking of the new role, Mr. Vieth highlighted the strength and unique nature of the Sandton Capital platform: “I am excited to join a strong team with a proven track record of investing in challenged, esoteric and illiquid credits. The European market is in need of new sources of capital and Sandton is well equipped to play a meaningful role in the process of bank deleveraging and corporate restructuring.”
In addition to Mr. Vieth’s experience in corporate debt origination, he was instrumental in building the emerging markets structured finance business at ABN AMRO Bank N.V. and traded currency and equity derivatives on the Chicago Mercantile and American Stock Exchanges. He has a Masters in Accountancy from The George Washington University and a BA from Duke University.