LCM Partners acquires £1.75 billion UK NPL portfolio
LCM Partners, a leading European Alternatives Investment Manager, announced that it has acquired another significant portfolio of non-performing and re-performing loans. Today’s transaction is a UK portfolio of mainly unsecured assets totalling £1.75 billion. It is a secondary portfolio of loans originated by prime lenders and is purchased with a fifteen year track record.
“This is a seasoned portfolio that generates strong and consistent cash flows. Our sister company, Link Financial Outsourcing, has been servicer since origination and so we know the payment profiles very well. Our relationship with Link as in-house servicer is a key advantage for LCM Partners; in terms of investment origination, access to static pool data for underwriting and the enhanced due diligence we can conduct on the portfolios.”
Adrian Cloake, Chief Investment Officer, LCM Partners.
“This is another important win for LCM Partners and comes hot on the heels of last week’s €3 billion asset purchase. As Investment Manager to LCM Credit Opportunities III it is essential we maintain our rate of deployment into transactions and we have been successful in achieving this during the first half of 2017. However, more important than simply deploying capital, is deploying capital into the right transactions. This portfolio, with its fifteen year track record, delivers assurance of quality to our Limited Partners.”
Paul Burdell, Chief Executive Officer, LCM Partners.
T: +44 203 457 5058
Notes to Editors:
LCM Partners is a leading European Alternatives asset manager, which specialises in buying whole loan consumer and SME credit portfolios. Offering unrivalled expertise in investing in and managing credit portfolios, LCM has acquired over 2,500 transactions covering performing, rescheduled and non-performing loans. The new portfolio will be serviced by LCM’s sister loan servicing company, which has a local presence in each of the countries included in the transaction.
LCM has won several investment industry awards, most recently winning European Pensions’ Alternatives Investment Manager of the Year 2017, which followed a double win at Private Debt Investor’s 2016 awards. These awards are testament to the track record the team has built, delivering an unleveraged IRR of 14.89% since 1999.
LCM is currently deploying capital for its LCM Credit Opportunities III strategy, for which fundraising closed in 2016. It will begin fundraising for its Strategic Origination and Lending Opportunities strategy ‘SOLO’ later in 2017.