• Evermill Capital will deliver bespoke asset-backed financing solutions for operating businesses and institutional clients
  • Evermill Capital has been founded by Scott Gardner, Tom Benham and Harry Millward backed by Delancey Real Estate
  • Scott, Tom and Harry have collectively raised c.£3bn and helped to deploy over £2.5bn into secure income real estate in recent years
  • Delancey Real Estate will provide strategic support to Scott, Tom and Harry who will be leading and managing the business.

Evermill Capital (‘Evermill’ or ‘the company’), a new investment manager specialising in asset-backed financing solutions, has formally launched today.

The company will be managed by three partners – Scott Gardner, Tom Benham and Harry Millward, with the strategic backing of Delancey Real Estate (‘Delancey’) a leading UK-focussed investment, asset and development manager. Delancey has seeded Evermill as part of a wider strategy with the aim to create a best-in-class platform, as they have previously done with specialist investment manager, NW1 Partners.

Scott, Tom and Harry have successfully worked together before and have c.60 years of combined experience in real estate, fixed-income and structured finance having held senior roles at AlphaReal and Macquarie Asset Management.

Evermill’s founding partners see an immediate opportunity and growing need for investment grade matching assets among Bulk Annuity insurers, driven by increasing demand for pension scheme liability risk transfers. In 2024 Ernst and Young estimated that the total volume of buy-out activity would be approximately £50bn and this trend is expected to continue.

The founding partners of Evermill Capital said: “Our specialist secure income skills alongside the wider Delancey business’ capabilities, creates a strong proposition for clients and counterparties. The management team and Delancey are aligned to building a sustainable platform with a deep understanding of liability-matching clients and market access that allows us to originate and structure bespoke transactions.”

A spokesperson at Delancey Real Estate said: “Evermill Capital will allow our clients to access real estate-related opportunities that sit outside the scope of our existing opportunistic and private credit strategies. With the entrepreneurial culture of a start-up, Evermill can respond nimbly to opportunities and work across the capital structure more flexibly than existing market participants – a key point of differentiation.”