LCM Partners, a leading European Alternatives Investment Manager, today announced that it 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." 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." Paul Burdell, Chief Executive Officer, LCM Partners.
Notes to Editors:
LCM Partners is a leading European Alternatives Investment 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 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.
Paul D Burdell
Source: LCM Partners