Personal funding agency J.C. Flowers & Co has agreed to the acquisition of credit score administration agency Pepper Benefit from proprietor Pepper World.
The transaction is predicted to finish within the first quarter of 2025, pending regulatory approvals. After the deal’s completion, Pepper Benefit will proceed to function as an impartial entity, with its present administration staff.
The phrases of the settlement weren’t disclosed.
Learn extra: Allianz and AlTi be part of forces on UHNW personal debt program
“We’re delighted to affix forces with J.C. Flowers & Co as we embark on the following part of our development technique,” stated Pepper Benefit group chief government Fraser Gemmell. “Their intensive expertise and sources will present us with the assist we’d like following a interval of extended success below the possession of Pepper World and can assist us improve our providing. This deal comes at a crucial junction in credit score markets as we proceed to assist our shoppers in an evolving market setting.”
J.C. Flowers & Co managing director Peter Yordán added: “We imagine Pepper Benefit is a frontrunner within the worldwide credit score administration house, and along with its administration staff, we are going to work to capitalise on rising alternatives and drive continued operational excellence on the firm.”
Learn extra: Blue Owl to amass information centre fund for $1bn
J.C. Flowers was based in 1998 and has invested greater than $18bn (£13.8bn) of capital, together with co-investment, in 66 portfolio corporations in 18 international locations throughout a spread of trade subsectors together with banking, insurance coverage and reinsurance, securities companies, specialty finance, and companies and asset administration. It has roughly $5bn of property below administration (AUM).
Pepper Benefit has $55bn AUM and operates in a number of asset courses together with residential and industrial mortgages, actual property, SME loans, asset financing and leasing, auto and client loans, bank cards, retail finance and BNPL, along with providing outsourced operational assist companies to each monetary and non-financial shoppers.
Learn extra: ICG raises $17bn for flagship direct lending fund