LCM Partners, an alternative investment management firm that operates under Link Financial Group, has acquired a European portfolio of non-performing and re-performing loans with a €3bn face value.
The purchase, announced on July 13, is for a portfolio consisting of more than 400,000 secured and unsecured loans. They are a combination of consumer, auto, leasing and SME loans which were originated in the UK, Germany, Italy and Spain.
The investment has been made through LCM’s Credit Opportunities III strategy, which involves the use of a single investment platform to enable different funds to invest alongside one another.
This portfolio purchase takes the total deployment of the strategy to €1.3bn. LCM is now managing €19.5bn face value of loans.
Paul Burdell, chief executive of LCM Partners, said: "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 €11bn of receivables from across our European markets and we’re successfully achieving both our deployment and return targets."
The firm is part of Link Financial Group, a collection of specialist credit servicing firms that provide loan management, debt purchase and standby servicing solutions.