Link Financial Acquires Aiqon Capital Espana

27 October 2017 – Newswire

Yesterday, the Link Financial Group announced that it had bought a specialist loan servicing platform, Aiqon Capital Espana. Based in Madrid, the one hundred and ten people strong team will add further capacity to Link’s existing Spanish business, Link Finanzas. The team will continue to service the €6 billion portfolio of loans bought by the Group’s Investment Manager, LCM Partners.

“Link Financial has been active in the Spanish market since 2004 when it established Link Finanzas. This announcement demonstrates the breadth and depth of opportunity we continue to see in Spain and underscores our commitment to this vibrant market. With a strong, full-service platform in place, we are confident that both businesses, operating under the Link Financial banner, will together grow and build on each other’s strengths. We are proud to welcome our new colleagues to the firm and are excited by the opportunities that this acquisition will offer Link Financial in the Spanish market.” – Selina Burdell, Link Financial Group Chief Operating Officer.

“The acquisition of the Aiqon business has been part of a wider transaction and portfolio purchase concluded by LCM Partners. The Aiqon team bring a depth of expertise in servicing Small to Medium Enterprise receivables and this means they are a seamless addition to our existing business and operation in Spain.

The Spanish market offers a lot of opportunity for businesses such as Link and Aiqon and together we will be stronger and able to offer our banking partners an exceptional proposition in the servicing of loan portfolios.” – Pablo de la Viña, Managing Director, Link Finanzas.

Established in 1998, Link Financial Group is a leading specialist outsourcing firm, providing European financial institutions, investors and other credit providers with outsourced loan management, debt purchase and standby servicing solutions. Today, it manages more than 2.5 million customer accounts, employs 700 people across 10 European offices and manages €25 billion of Gross Book Value.

Link was one of the founding members of the industry and has been at the forefront of innovation ever since. Link’s proprietary operational platform allows its businesses to service a range of asset types from within and outside the financial services industry.

Original story: Newswire 

Edited by: Carmel Drake

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Altamira Obtains More Than €500M Of Financing

16 June 2015 – Expansión

Altamira Asset Management has just signed an agreement with a syndicate of 12 domestic and international banks to renew its financial structure and obtain financing of more than €500 million.

This operation forms part of the company’s strategy for growth and diversification, as it aims to position itself as one of the major independent and multi-client operators in the sector for the management of financial and real estate assets.

In fact, Altamira has just begun the process to migrate assets with a total value of €29,000 million from Sareb into its portfolio.

The portfolio awarded to Altamira for seven years comprises 44,000 properties and loans (to property developers) originated by Catalunya Caixa, BMN and Caja 3, for which Sareb disbursed around €14,000 million. By taking on these assets, Altamira doubled the value of its portfolio of assets under management and became the industry leader with a portfolio of total assets that exceeds €55,000 million.

Compared with a year ago, the company has increased its volume of assets under management by 113% and has started to manage portfolios from six different clients. In summary, it has significantly grown and diversified its client portfolio.

Santander closed the sale of 85% of Altamira to the US fund Apollo in January 2014, for €664 million. The bank retained the remaining 15% stake in the asset manager.

The operation involved the transfer of 500 employees from Santander to the new Altamira platform, although the annual accounts for 2013 only reflected the movement of 272 people: 183 from Santander, 60 from Altamira Santander Real Estate, 7 from Reintegra and 22 from Elerco.

Apollo hired the former Director General of Citi, Julián Navarro to lead this project; he joined Altamira as the CEO. The presidency is reserved for Andrés Rubio, the partner assigned by the US firm to design the strategy in Spain. This banker has led transactions such as the purchase of Evo Banco and Altamira.

Original story: Expansión

Translation: Carmel Drake