Chrysalis funds viable projects and helps make projects viable. We believe the best structures result from dialogue and engagement so please contact us directly if your project may fit the criteria below.
The below provides highlights of Chrysalis’ investment strategy for 2016-2022. They are indicative only.
The Chrysalis Fund shall operate in Wirral, Liverpool, Sefton, Knowsley, St Helens and Halton.
Types of Project
Eligible project types include:
- Offices, research and development facilities and light industrial facilities
- Mixed use projects that combine commercial, residential, retail and leisure uses. Purely residential, retail and leisure schemes are not eligible
- Industrial, storage and distribution facilities
- Renewable energy and low carbon investments in response to local energy needs, such as co-generation and distribution energy systems
- Energy efficiency retrofit schemes targeting the retrofit of existing commercial stock
Chrysalis will fund land and building acquisition, site preparation and infrastructure, property development, redevelopment and refurbishment.
Chrysalis will also fund capital investment in relation to energy efficiency and low carbon projects where they are linked to wider urban development proposals.
Unless by exception, Chrysalis funding will not exceed 60% of total project costs.
Types of Commitment
Chrysalis may offer senior, junior and corporate debt; quasi-equity and equity; first loss positions and guarantees. All commitments are structured to meet the project’s need, risk profile and State aid position.
No single commitment will exceed 20% of the fund’s size or be made for less than £1 million.
Chrysalis may commit funds at commercial and sub-commercials rates. Commercial commitments will be priced in compliance with “Communication from the Commission on the revision of the method for setting the reference and discount rates” where no market comparator is available. Sub-commercial commitments will be priced to balance project viability, compliance with an identified State aid route and fund portfolio requirements.
Commitments will be made on a demand-led basis. The fund manager will assess the following when allocating commitments:
- Overall demand for funding
- Financial performance, risks and prospective return of the commitment and project
- The project’s contribution to outputs and the delivery of wider urban development proposals
- Portfolio risk and return, including:
- Geographical, sectoral and financial concentration risk
- Timing of commitments and returns
Cross Cutting Themes
Other than by exception, new developments shall achieve BREEAM Excellent. Redevelopments and refurbishments shall achieve BREEAM Very Good. All contractors must maintain equality and diversity, equal opportunities and health & safety policies in line with UK and EU legislation. For the time Chrysalis funding is outstanding at least, project owners must maintain equality and diversity, equal opportunities and health & safety policies in line with UK and EU legislation.