LCM Partners, a leading European Alternatives Investment Manager, today announced that it has acquired a substantial portfolio of secured, non-performing SME loans from Grupo Cooperativo Cajamar in Spain. The portfolio comprises approximately 1,200 loans, predominantly secured against granular residential real estate assets on the East and South coast of Spain.
"Through our LCM funds we have deployed increasing amounts of capital into buying secured and SME loans in recent years and our Link servicing business in Spain doubled the size of its platform in 2017 so we are delighted to have acquired such a high-quality mortgage portfolio which plays to our strengths." Adrian Cloake, Chief Investment Officer, LCM Partners.
"We have been active in the Spanish non-performing loan market since 2004 and now have a large, well-established local presence. This is our second substantial acquisition there in the last nine months and fourth transaction in Spain this year. Levels of market activity have certainly increased and this transaction is testament to our ability to source attractive non-performing loan investments for our Limited Partners." 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. LCM Partner's Gross Book Value of assets managed now stands at over 26 billion.
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 14.79% 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. ---
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