AnaCap Financial Partners’ (AnaCap) AnaCap Credit Opportunities III has acquired a portfolio of UK 2nd lien performing and non-performing mortgage consumer loans from Welcome Financial Services (Welcome).
This transaction represents AnaCap’s third acquisition of assets from Welcome since August 2015, totalling over GBP250 million in aggregate. AnaCap’s reputation and long track record acquiring and managing both performing and non-performing debt portfolios, often working with repeat sellers, enabled a seamless completion of this transaction.
AnaCap’s best-in-class digital platform and deeply embedded expertise in consumer finance facilitated the granular analysis of over 19,000+ accounts included in this most recent portfolio acquisition, totalling circa seven million discrete data points.
Ernst & Young (EY) were advisers to Welcome. The purchase price has not been disclosed.
Konstantin Karchinov, Managing Director at AnaCap Financial Partners LLP, says: “AnaCap has further leveraged its extensive track record in the acquisition and management of both performing and non-performing debt portfolios across Europe, providing an attractive and comprehensive solution to the vendor. The granularity of our due diligence focused not only on analysing the credit, but also ensuring efficient completion, migration and continuity of customer service.”
