Street Talk

Next Capital warms up investors for SilverChef continuation fund

Sarah Thompson, Kanika Sood and Emma Rapaport

Mar 31, 2025 – 6.02pm

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Six years after Next Capital snapped up SilverChef’s hospitality finance business, the mid-market buyout firm is asking investors for more time to allow the non bank lender’s North American expansion plans to play out.

Street Talk can reveal Next Capital is seeking to place SilverChef into a continuation fund, allowing investors the option of rolling into a new vehicle that would house the portfolio company for the next three to four years. Limited partner sources said Next Capital had outlined a strategy to grow organically into the United States, pointing to its recent acquisition of a SilverChef-lookalike business in Canada, called Econolease.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.