Alternatves manager LCM Partners has acquired a significant European portfolio of non-performing and re-performing loans. This landmark deal sees LCM purchase EUR3 billion of assets, comprising over 400,000 individual loans of secured and unsecured, consumer, auto, leasing and SME loans which were originated in the UK, Germany, Italy and Spain.
Investing via the LCM Credit Opportunities III strategy this purchase takes the total deployment to EUR1.3 billion. Managing EUR19.5 billion of loan value, LCM Partners is one of Europe’s largest investors in private debt.
“This transaction is a great example of how LCM is able to leverage its proprietary data warehouse, together with its 18 year franchise in credit and its award-winning, in-house servicing operations, to succeed in today’s fast-moving markets. This portfolio is very granular, delivers a strong cash yield and complements the existing investments made into the LCM Credit Opportunities strategy,” says Adrian Cloake, Chief Investment Officer, LCM Partners.
“Following a successful fundraising in 2016, LCM Partners is now focused on putting our investors’ capital to work. We have a strong pipeline of approximately EUR11 billion of receivables from across our European markets and we’re successfully achieving both our deployment and return targets,” says Paul Burdell (pictured), Chief Executive Officer, LCM Partners.