LONDON and TORONTO, March 21,
2018 /PRNewswire/ --
LCM Partners ("LCM"), a European alternative credit investment
manager, announces that it has entered into a strategic partnership
with Brookfield Asset Management Inc. (TSX:BAM.A) (NYSE:BAM)
(Euronext:BAMA) ("Brookfield"), a
leading global alternative asset manager, aimed at jointly
growing LCM's leading asset management and credit servicing
business globally.
Under the terms of the agreement, Brookfield will acquire a 25% strategic
interest in Link Financial Group, which comprises both LCM and its
sister companies which operate a pan-European loan servicing
platform under the Link Financial brand, with an option to acquire
another 24.9% interest over time.
Link Financial Group was established in the UK in 1998 and has
since grown across 10 European offices to become a leading
alternative investment manager focussed on credit, and specialised
in investing in and servicing consumer, SME, auto, leasing
and commercial loans. The firm employs approximately 700
people and has acquired over 2,500 portfolios of performing,
rescheduled and non-performing loan portfolios since inception from
major banking groups and financial institutions.
"We are very excited to announce our strategic partnership with
Brookfield, with whom we can
further develop our business, not only as one of Europe's leading credit asset management and
loan servicing firms but to become one of the pre-eminent firms
globally," said Paul Burdell, CEO of
LCM and Link Financial Group.
"With its highly complementary areas of investment expertise,
global network spanning 100 offices in over 30 countries, strong
distribution and capital strength, we are convinced that
Brookfield is our ideal strategic
partner. We are particularly excited at the prospect of working
together to develop new investment opportunities for our clients,
leveraging Brookfield's global
network, relationships and access to proprietary deal flow."
"We are pleased to partner with LCM, a market leader with an
established track record of strong investment performance and
long-term client relationships," said Ralf
Rank, Managing Partner, Brookfield. "We look forward to working
closely with LCM's management team to support the growth of its
platform via expansion into new markets, diversification of its
product offering, and through pursuing investment opportunities
leveraging the capabilities of both firms."
Link Financial Group will continue to operate independently
under the leadership of the existing management team who remain
focussed on delivering excellent investment performance and
best-in-class loan servicing for its clients.
The transaction, which is expected to close during the next
quarter, is subject to customary regulatory approvals and closing
conditions. The financial terms of the transaction have not been
disclosed.
Spencer House Partners LLP acted as financial adviser to Link
Financial Group.
Notes to Editors:
About LCM Partners
LCM is a leading European alternatives asset manager based in
London, which specialises in
buying whole loan consumer and SME credit portfolios. Offering
unrivalled expertise in investing in and managing credit
portfolios, LCM has approximately €3 billion of drawn and/or
committed capital and has invested in over 2,500 portfolios of
performing, re-scheduled and non-performing loans.
LCM has won several investment industry awards, including the
European Pensions' Alternatives Investment Manager of the Year
2017, which followed a double win at Private Debt Investor's 2016
awards as European Distressed Debt Manager and European Fundraising
for the year. These awards are testament to the track record the
team has built, delivering an unleveraged IRR of 14.8% since
1999.
LCM is currently deploying capital for its LCM Credit
Opportunities III strategy, for which fundraising closed in 2016
and launched its Strategic Origination and Lending Opportunities
strategy 'SOLO' in March 2018.
For more information, please visit LCM's website
at http://www.lcmpartners.eu .
About Link Financial
Link provides European financial institutions, investors and
other credit providers with loan management, debt purchase and
standby servicing solutions. Link manages approximately 3 million
customer accounts and €25 billion of corresponding assets, and
employs some 700 people across 10 European offices.
Link was one of the founding members of the modern credit and
collections industry in Europe and
has been at the forefront of innovation ever since. Link's
proprietary operational platform allows its business to service a
range of asset types from within and outside the financial services
industry.
For more information, please visit Link's website
at http://www.linkfinancial.eu .
About Brookfield
Brookfield Asset Management Inc. is a global alternative asset
manager with over US$285 billion in assets under
management. The company has more than a 100-year history of owning
and operating assets with a focus on real estate, renewable power,
infrastructure and private equity.
Brookfield offers a range of public and private investment
products and services, and is co-listed on the New
York, Toronto and Euronext stock exchanges under the
symbol BAM, BAM.A and BAMA, respectively.
For more information, please visit the company's website
at http://www.brookfield.com.
Media Enquiries:
LCM Partners:
James Hogan
T: +44-203-198-8637
jhogan@lcmpartners.eu
Paul D Burdell
T: +44-203-457-5050
paulburdell@lcmpartners.eu
Brookfield:
Claire Holland
T: +1-416-369-8236
claire.holland@brookfield.com
SOURCE LCM Partners