Jan 07, 2015

Blackstone and TSSP Agree to Acquire Acenden Mortgage Servicing Solutions

London, 7th January 2015. Funds managed by Blackstone Tactical Opportunities (“Blackstone”) and TPG Special Situations Partners (“TSSP”) have agreed to acquire Acenden Mortgage Servicing Solutions (“Acenden” or “the Company”) from the administrators of Lehman Brothers.

Acenden is a leading mortgage servicing solutions provider.  The Company provides primary servicing, special servicing, analytics and securitisation services.  It has more than 64,000 loans under management, with a value of about £5.4bn (at December 2013).  Acenden employs almost 400 staff located in central London, High Wycombe and Dublin. 

Amany Attia, Chief Executive Officer of Acenden, said:

We are excited to work with Blackstone and TSSP and believe that Acenden is well placed to benefit in the long term from the collaboration with our new shareholders.”

The transaction is expected to close in early 2015, subject to customary regulatory and antitrust approvals.

About Acenden
Acenden is a leading mortgage servicing solutions provider, adding value through the use of innovation, operational experience and advanced analytics, to enable better asset performance, risk management and business performance. Acenden provides primary servicing, special servicing, analytics and securitisation services. It has more than 64,000 loans under management, with a value of about £5.4bn (at December 2013). Acenden employs almost 400 skilled and highly trained people located in central London, High Wycombe and Dublin.

Previously a part of Lehman Brothers bank, and known as Capstone, in 2010 the business was launched as a standalone third party mortgage outsourcing solutions provider and rebranded as Acenden.

For more information visit www.acenden.com

About TPG Special Situations Partners
TPG Special Situations Partners (“TSSP”) is the dedicated credit and special situations platform of TPG, a leading global private investment firm. TSSP manages over $10 billion and includes the TPG Opportunities Partners, TPG Specialty Lending and TPG Institutional Credit Partners platforms.  TSSP has extensive experience with global public and private investments executed through primary originations, secondary market purchases and restructurings.

TPG is a leading global private investment firm founded in 1992 with $66 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo.  The firm’s investments span a variety of industries including financial services, travel and entertainment, technology, energy, industrials, retail, consumer, real estate, media and communications, and healthcare. 

For more information visit www.tpg.com

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with almost $300 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. 
Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Blackstone’s Tactical Opportunities business employs an opportunistic, multi-asset class investment strategy focused on special situations investments.  Tactical Opportunities seeks to invest globally in opportunities throughout the capital structure.  The strategy leverages the deep synergies and experience that exist across Blackstone’s leading alternative asset and advisory platform to generate attractive opportunities.

For more information visit www.blackstone.com

Media Contacts:
Andrew Dowler
Blackstone
+44 (0)20 7451 4275

Charlie Harrison
TPG
+44 (0)20 3772 2579

Alex Hammond
Kensington
+44 (0)20 7597 2961
+44 (0)7855 303 448