19 January 2018
AnaCap Financial Partners (“AnaCap”), the specialist European financial services private equity firm today announces that it has reached an agreement to acquire a portfolio of seasoned, performing U.K. unsecured personal loans from Secure Trust Bank plc (“STB”) via AnaCap Credit Opportunities III, L.P. fund (the “Fund”).
The portfolio is highly diversified, covering more than 10,000 individual loans geographically spread across the U.K., with an average seasoning of almost two years, thus providing strong and stable cash flow from the outset.
This is the Fund’s second investment in the U.K. and follows-on from a number of similar investments in performing consumer loans made by AnaCap predecessor funds, further developing the firm’s investment strategy addressing performing assets which now comprises investments across consumer, SME and secured corporate loan portfolios as well as regulatory capital and structured credit.
Konstantin Karchinov, Managing Director at AnaCap, commented:
“We are delighted to have completed this deal – one that represents AnaCap’s 16th U.K. investment and our 8th performing asset acquisition in the U.K. alone. AnaCap’s extensive track record in the U.K. and performing credit investments dates back to 2010 and this deal reinforces the firm’s ability to access regulated performing assets and adjacent asset types across Europe.”