Praesidian Capital Europe, a provider of long-term growth capital in the UK and Northern Europe, secured a £50 million ($66 million) facility in concert with GB Capital, an affiliate of Durham, NC-based Eli Global, a transnational financial services and private equity firm. Praesidian will use the new facility to source, evaluate and manage loans to lower middle market companies across the U.S., Germany and Northern Europe.

Praesidian was launched in 2013 by its New York-based parent company. The firm’s first fund provided loans to fund a broad range of transactions from sponsored and non-sponsored buyouts and growth capital for businesses ranging from mortgage brokering and building products to medical laboratories and nutritional foods.

Loans both in the U.S. and Europe generally range in size from £5 million ($6.64 million) to £15 million ($20 million), with the European market being more senior-debt focused. Praesidian is currently investing its fourth U.S. fund and will soon embark on its second European fund.

“Eli Global is a well-established private investment company with a worldwide reach and expertise in financial services. The relationship further validates our UK-based platform,” stated Jason Drattell, founder and managing partner of Praesidian. “This facility provides additional capital as we continue providing necessary lending services to growth-oriented businesses following a first fund that prove highly successful for investments in the UK and Germany.”