Aldermore Group has acquired a £465m portfolio of bridging finance loan assets and associated capability from Octane Capital.
The specialist lender revealed that the transaction has been funded from its existing internal cash resources in the ordinary course of business.
Aldermore said that Octane has a “strong track record” of originating loans in the bridging finance market since 2017.
The group added that the step to acquire the portfolio would strengthens Aldermore’s specialist lending proposition in growing adjacent lending products, meeting the group’s stated strategy and value creation objectives.
Managing director of property at Aldermore, Ross Dalzell, commented: “We are acquiring a high-quality loan portfolio and associated capabilities. This will enable the group to further grow its client base by offering specialist bridging finance capabilities.
“The strength of Aldermore's balance sheet will allow the group to access higher-quality and better-margin opportunities within this niche sector, delivering attractive risk-adjusted returns.”
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