Cheyne Capital has provided a £51m (€57.2m) development facility to Country Court Care to help build new care homes.

Country Court Care said Cheyne Capital has also become a sole, senior lender to its 30 care home portfolio, replacing Barclays, Santander and AIB.

The amount provided will be used to fund a pipeline of seven new build assets nationwide. 

Al-Karim Kachra, the CFO of Country Court Care said: “We’re very pleased to have grown our relationship with Cheyne Capital which started three years ago.

”Being a family business it has always been imperative for us to retain our core family values throughout the business and to have a partner that understands our ethos.”

Raphael Smadja of Cheyne Capital said: “We’re delighted to grow our relationship with the business, whose ethos and operational approach corresponds with the high-quality, relationship-driven principles we employ in our lending strategy.

”This supports our strategy of providing flexible private capital to help invest in the growth of this sector.”