LCM Partners and Brookfield Asset Management enter into strategic partnership
LONDON and TORONTO, March 21, 2018 (GLOBE NEWSWIRE) -- 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.
T: +44 203 198 8637
Paul D Burdell
T: +44 203 457 5050
T: +1 416 369 8236
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 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 www.linkfinancial.eu.
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 www.brookfield.com.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Brookfield Asset Management Inc via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Minerals Technologies Announces Price Increases for Specialty Minerals Products in Europe14.12.2018 00:01 | Pressemelding
NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Specialty Minerals Inc. (“SMI”), a subsidiary of Minerals Technologies Inc., announced today that effective February 1, 2019, it will increase prices by up to 10% for all coated ultrafine precipitated calcium carbonate (PCC) from SMI’s Lifford Specialty PCC facility in Birmingham, UK, subject to individual customer contracts and market provisions. The price increases reflect increased market demand for higher performance materials, as well as significant inflation in input, raw material and logistics costs. About Minerals Technologies Inc. New York-based Minerals Technologies Inc. (MTI) is a resource- and technology-based growth company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. MTI serves the paper, foundry, steel, construction, environmental, energy, polymer and consumer products industries. The Company reported sales of $1.
Synthesio to Bring Proven Ipsos Data Science to Artificial Intelligence13.12.2018 17:03 | Pressemelding
Synthesio's Next-Generation Social Media Intelligence to Raise Unseen Insights to the Surface, Faster NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Synthesio, an Ipsos company, and also the leading Social Media Intelligence Suite, today announced the plans for its next-generation Artificial Intelligence (AI) engine. The project will combine Synthesio’s AI technology with Ipsos’ data science. The combination will power upcoming Synthesio capabilities to help users find insights faster, remove guesswork, and make informed business decisions across a variety of use cases. “Our goal has always been to provide customers with meaningful data, visualized so that they can make strategic business decisions,” explained Loic Moisand, CEO & Founder of Synthesio. “The less guesswork that a company has to make, and the less time that it takes users to find meaningful insights, the more time for data-backed business decisions. We are really pleased that we can leverage the data science capabilities dev
XBiotech Announces Publication of Post-Hoc Analysis for Phase III Colorectal Cancer Study13.12.2018 14:00 | Pressemelding
Biomarkers Predict Significantly Higher Rates of Treatment Response to Bermekimab in Advanced Cancer Patients AUSTIN, Texas, Dec. 13, 2018 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today the publication of findings on key biomarker analysis of colorectal cancer patients treated with bermekimab in its European Phase III study. The manuscript, entitled, “Interleukin-1 Receptor Antagonist (IL-1ra) Levels Predict Favorable Outcome after Bermekimab, a First-in-Class True Human Interleukin-1α Antibody, in a Phase III Randomized Study of Advanced Colorectal Cancer”, has been published online in the journal OncoImmunology. The findings report that patients with relatively low levels of IL-1ra or IL-6 were more likely to respond to bermekimab therapy and achieve the study’s primary endpoint. The study’s primary endpoint measured a combination of physical symptoms—pain, fatigue, anorexia and muscle wasting—which tend to worsen with advanced cancer, to assess whether these sympto
FROM CUTE TO CONFIDENT: MARY KAY INC. TALKS PINK AT THE MUSEUM AT FIT13.12.2018 14:00 | Pressemelding
Mary Kay Inc. and The Museum at The Fashion Institute of Technology Partner for a Pink-Centric Panel Discussion in Conjunction with Special Exhibition ‘Pink: The History of a Punk, Pretty, Powerful Color’ NEW YORK, N.Y., Dec. 13, 2018 (GLOBE NEWSWIRE) -- From pink makeup compacts to the iconic pink Cadillac, global beauty brand Mary Kay has been synonymous with the color pink for more than five decades. On December 13, 2018, Mary Kay will partner with The Museum at FIT (MFIT) to host a scholarly panel discussion, ‘Powerful Pink: From Cute to Confident,’ at the Katie Murphy Amphitheatre on the New York City FIT campus. Panelists include Luis Casco, Mary Kay Global Beauty Ambassador and celebrity makeup artist; Kate Greene, Vice President of Communications and Creative Direction at Givaudan and Karen Young, FIT adjunct professor and founder of The Young Group. The panel discussion will be moderated by Sheryl Adkins-Green, Chief Marketing Officer for Mary Kay Inc. The scholarly panel disc
DoubleVerify Launches Brand Safety and Suitability Verification Across YouTube, Extending Quality Coverage for Global Brands13.12.2018 14:00 | Pressemelding
DV expands its partnership with YouTube to identify off-brand content, enabling measurement of Authentic ImpressionⓇ delivery NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- DoubleVerify ("DV"), the leading independent provider of marketing measurement software and analytics, today announced an expanded partnership with YouTube to deliver brand safety and suitability measurement for campaigns run on the platform. The partnership drives greater campaign transparency and unlocks potential performance for advertisers wishing to avoid unsuitable content or categories of lesser relevance to the brand. “We are excited to enter a new phase of partnership with YouTube,” said Wayne Gattinella, CEO of DoubleVerify. “Today, brand suitability is a core advertiser expectation – across all media types and buying platforms. With our expanded partnership, DoubleVerify is ensuring brand suitability on the world’s leading online video platform.” YouTube advertisers will now benefit from DV’s best-in-class B
BST wins second contract to build cars for the growing high-speed rail network13.12.2018 12:30 | Pressemelding
Second order of new Chinese standard high-speed train cars demonstrates Bombardier joint venture’s competitiveness and ability to deliver proven high-speed mobility solutions Bombardier has been increasingly active in developing China’s advanced railway networks with multiple high-speed railcar orders BERLIN, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Bombardier Sifang (Qingdao) Transportation Ltd. (BST), a joint venture of global mobility solution provider Bombardier Transportation, announced today that it has won a second contract this year to support China’s evolving high-speed rail network. The new contract, awarded by China Railway Corp. (CRC), is to supply 168 CR400AF new Chinese standard high-speed train cars and is valued at approximately 3.1 billion CNY ($453 million US, 399 million euro). Bombardier Transportation owns 50% of the shares in BST, which is consolidated by Bombardier Transportation’s partner CRRC Sifang Co., Ltd. The 168 cars will be configured into fifteen 8-car trainset
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom