Introducing Zenzic Capital

We specialise in lending and investing across a range of real estate asset classes

Zenzic was founded in 2014 by partners with investment banking and corporate finance experience, the team have financed over £1.25bn of real estate and asset-backed transactions across alternative sub-sectors including logistics, PBSA, PRS, hotels and leisure. Since inception, Zenzic Capital has established a reputation for providing bespoke financing solutions to real estate borrowers and investment solutions for investors.

Zenzic Capital provides a range of structured financing solutions to match the needs of borrowers across the UK and Europe. We have built an extensive track record providing both single-site and platform level funding across acquisition, development and opportunistic scenarios.

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Zenzic in a Snapshot

Structuring Expertise

Credit & Operational Capability

Depth and Breadth of Origination

Access to & Expertise in Niche Markets

Investment Approach

Our investment approach is driven by the following core principles that permeate our thinking, our investments and the DNA of our firm.

The Upside of Downside Protection

We believe that entry price, or creating value through the buy, is the most critical factor in limiting risk. Accordingly, investing on a value driven basis – and the margin of safety it creates – is at the centre of our investment process.  We seek convexity in all our investments where we can create a day 1 margin of safety through subordinated value while enjoying upside participation.

We believe that the best investors should be prepared and capable of looking where value is, not where they would like it to be, and the deepest mispricings are rarely the most visible. Accordingly, a key part of our investment process is identifying market inefficiencies caused by cyclical swings, industry disruption, capital scarcity, a specific transaction dynamic or wider dislocations. 

Our investment focus is on lower middle-market opportunities, where financing options are more limited, but a wealth of desirable transactions exist.  Size can genuinely be a disadvantage in some cases, particularly when it comes to defining your opportunity set. As one legendary opportunistic investor put it: “While it helps to have extraordinary size to be an NBA player, there are a lot of big lugs who aren’t any good and can’t make it in the NBA despite their size. It’s also how skilfully you play!”

The herd mentality nearly always prevails in financial markets.  It is safer to be in the pack even when the consensus is shown to be wrong.  Creativity therefore requires an insistence on independent thought, an acceptance of uncertainty and to act with boldness when an opportunity presents itself.

Special opportunities in private markets are a tabula rasa for investment firms.  The ability to structure – defined in our view as the application of legal, financial and commercial knowledge to mitigate risk – is a hallmark of the firm and needs to be bespoke to each transaction.  We utilise the full panoply of protections available to both creditors and equity-holders, typically coupled with novel additional structural enhancements to elevate liquidity and/or mitigate jurisdictional risk.

We invest via permanent capital structures that avoid liquidity pressures that can drive either short-termism or value destruction through necessitated monetisation of positions.  Being able to wait and to avoid being either a forced buyer or seller is in our view a material advantage in today’s investment universe.

The Zenzic Team

Nadine has more than two decades of advisory and investment experience. She co-founded Zenzic Capital in 2013 with Tom Lloyd-Jones. Prior to founding Zenzic, Nadine held insolvency and transaction advisory roles at Horwath Clarke Whitehill, RSM Tenon and Baker Tilly.
Nadine Buckland
Chief Executive Officer
Tom has over 20 years’ advisory and investment experience focusing on alternative investments. He co-founded Zenzic in 2013 with Nadine Buckland. Previously, Tom held roles at Macfarlanes and EY, advising managers on transactions and fund formation. Tom holds a law degree from Cambridge University.
Thomas Lloyd-Jones
Chief Investment Officer
James is a qualified chartered accountant with extensive experience in financial services and real estate. Prior to joining Zenzic in 2014, James was a Senior Analyst at Northern Trust, in their Asset Management division, and an Audit Supervisor at Moore Stephens within audit and advisory.
James Lloyd-Jones
Chief Financial Officer
Carcie has over 25 years’ experience in the alternative investment industry. She founded Carcie Consulting in 2014, a marketing infrastructure consultancy. Previous Marketing and IR roles at Atrato, Pemberton, BlueBay and Pioneer Alternatives. She is a Chartered Marketer and Fellow of CIM.
Carcie Rogers
Chief Marketing Officer
Chris co-founded Maslow Capital in 2009 and grew the business into one of the leading providers of alternative development finance in the UK, lending >£2bn to developers. During his 40-year career, Chris has held senior positions at RBS, AIB, and Investec Private Bank.
Chris Blowers
Head of RE Development Finance Origination
Steve has over 27 years’ investment experience in European structured credit. Previously, he was a partner at East Lodge Capital, which focused on public and private market opportunities globally. Prior to this, Steve was Head of European ABS at CQS and Executive Director of Credit at Rabobank International.
Steve Swallow
Steve Swallow
Senior Advisor
Nadine has more than two decades of advisory and investment experience. She co-founded Zenzic Capital in 2013 with Tom Lloyd-Jones. Prior to founding Zenzic, Nadine held insolvency and transaction advisory roles at Horwath Clarke Whitehill, RSM Tenon and Baker Tilly.
Nadine Buckland
Chief Executive Officer
Tom has over 20 years’ advisory and investment experience focusing on alternative investments. He co-founded Zenzic in 2013 with Nadine Buckland. Previously, Tom held roles at Macfarlanes and EY, advising managers on transactions and fund formation. Tom holds a law degree from Cambridge University.
Thomas Lloyd-Jones
Chief Investment Officer