Dragonfly trio reunite to launch new specialist lender, Octane Capital

Jonathan Samuels, Mark Posniak and Matt Smith are working on a JV with Pamplona Capital Management

Jonathan Samuels, founder of Dragonfly Property Finance (now Octopus Property), has teamed up with former colleagues Mark Posniak and Matt Smith to launch a new specialist lending outfit for resi and commercial developers and investors.

Octane Capital, which is due to formally launch in May, is a JV with investment management firm Pamplona Capital Management – which claims to have more than £5bn under management. The new business will offer resi and commercial bridging loans, medium-term buy-to-let products and development finance, with a focus on complex, non-standard and larger than average loans; it will operate mainly through brokers.

Samuels – who started Dragonfly back in 2009, and left in 2015 – is down as Octane’s Chief Exec, while Posniak and Smith reprise their Dragonfly/Octopus titles (they both left in November to join Samuels’s new venture), of Managing Director and Director of Risk.

Tom Clark has been brought in from Wellesley as Sales Director, and Robert Graham – previously Dragonfly’s Finance Manager – has signed up as Head of Finance.

Jonathan Samuels, CEO of Octane Capital: “It’s fantastic to be back in the industry and working again with some of the most respected names in specialist property finance. In Pamplona we have an exceptionally strong and experienced funding partner that will position us well from the outset and enable us to lend at will. Our focus will be on complex, non-standard loans that are outside the comfort zone of most other lenders but which we believe play to our strengths. We are certainly not here to make up the numbers.”

Nitin Bhandari, Partner at Pamplona Capital Management: “We are very pleased to be partnering with Jonathan and the Octane Capital team, whose experience and ability in this market are second to none. I have no doubt that Octane Capital will make rapid inroads into the specialist lending sector and it will have our full support and funding to do exactly that.”