LONDON, Jan. 25, 2017 /CNW/ - Link Financial Group today announced it invested over €580m in non-performing and performing loan portfolio acquisitions in 2016, whilst also expanding into three new markets. Significant investments made during the year included sizeable pools of non-performing and re-performing retail loans from three of the UK's largest banking groups, totalling €345 million of investment value alone.
The Group also built on its 10 year presence in Italy with a ground-breaking deal to acquire the run-off of BBVA's Italian consumer finance business for just under €100 million as well as acquiring a second portfolio in the Italian mortgage market and a string of purchases in the auto sector in Spain. Further loan portfolios and a second operation in Ireland were added through the acquisition of Everyday Finance, based in Galway.
Capital was also deployed outside these core markets with smaller transactions in France and Poland. Link also established an operating presence in Portugal and is already eyeing up several local investment opportunities. The Group sees good scope in these new markets to grow both its investment capability and deploy further capital in 2017 and beyond.
2016's portfolio purchases take the Group's total managed assets to over €15.5 billion making it one of the larger, long-standing credit investors in Europe to be focussed on consumer and SME assets.
"These new portfolios demonstrate our ability to complete multiple, complex transactions across Europe within tight timeframes, despite the challenging market conditions. We see huge potential for further investment as we look to deploy available Group funds across our new and existing markets."
Selina Burdell, COO - Link Financial Group
Notes to Editors:
- The Link Financial Group is owned by founders and management; the core leadership team has been in place for over 10 years
- Since 1999 when the Group was founded, it has purchased more than 2,000 loan portfolios with a gross book value managed of over €15.5 billion
- Link Financial Group manages over 2.5 million underlying customers, servicing a full range of consumer and SME loan types; including credit cards, auto loans, residential and commercial mortgages, leasing, utilities and student loans
- The servicing businesses within the Group use the same in house systems, processes and procedures across 10 European offices, ensuring adherence to the highest quality standards. ESG principles and treating customers fairly have always been firmly embedded in the organisation
- The UK servicing entity is rated 'Strong' by Standard & Poor's
SOURCE Link Financial Group
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For further information: Link Financial Group contact: Anthony Harrison, Group Marketing Director, T: +44(0)203-198-8635, [email protected]