UK-based Allegro Finance has received a £2m ($2.6m) working capital facility from European private credit manager Beechbrook Capital, through funds managed by the British Business Bank.
It follows the $500m credit facility launched last week by the platform as a joint venture between Allegro, set up in 2024, and entities advised by UK fund management firm Elliott Advisors.
The £2m working capital money is separate from the $500m figure; the former is growth capital backing the team, platform, and operating infrastructure of Allegro itself.
Allegro Finance aims to become one of the largest non-bank debt platforms for the global screen sector.
“This working capital facility is a powerful catalyst for Allegro’s growth,” said Sam Collett, co-founder and chief finance officer at Allegro Finance, of the Beechbrook facility. “It enables us to scale the platform and deploy private institutional capital into the UK film and television sector at a level not previously seen.
“This is precisely how public capital can unlock private investment, support high-growth businesses and strengthen one of the UK’s most globally competitive industries.”
Allegro Finance’s strategy is to offer senior secured financing against contracted production receivables, including tax incentives, distribution minimum guarantees and unsold rights.
“This facility will enable Allegro to accelerate capital deployment to producers and production companies, materially increasing the funding available for film and television production,” said Paul Shea, managing partner at Beechbrook Capital.
According to the company, the Beechbrook credit facility will enable Allegro to invest in talent, systems, and operational infrastructure, enhancing its ability to originate, underwrite, and manage senior secured production finance.
“The UK’s creative industries play a vital role in the government’s Industrial Strategy, employing 2.4 million people and contributing £124bn of Gross Value Added to the economy,” said Adam Kelly, managing director and co-head of funds at the British Business Bank. “By providing finance to Beechbrook Capital, and in turn supporting specialist platforms like Allegro Finance, we support businesses to access the finance they need to start, scale and stay in the UK.”
No comments yet