AnaCap makes £116.9m in Aldermore sell down

AnaCap and Toscafund sold 50.9 million shares at 286p apiece – a premium of more than 50% on the bank's listing price of 192p per share.

Reuters cites Deutsche Bank – the joint bookrunner alongside RBC Capital Markets – as saying AnaCap raised £116.9m from the sale, while Toscafund's sale was worth £28.6m, leaving the former with a 40% stake in Aldermore.

The partial exit comes six months after Aldermore Group was listed on the London Stock Exchange in an IPO that valued the company at £650m.

AnaCap held a 52.9% stake in the bank following the flotation, while Toscafund was the second-largest shareholder with 9%, according to Thomson Reuters.

Previous funding
In 2009, Morgan Stanley Alternative Investment Partners invested £45m in Aldermore (then Ruffler Bank), alongside AnaCap, according to unquote" data. The investment followed AnaCap's acquisition of London-based Ruffler Bank in May of that year.

In September 2011, Goldman Sachs, Honeywell Capital Management and Ohio Public Employees Retirement System took part in a £62m second round of funding for the bank.

The company then raised £40m from Toscafund and Lansdowne Partners in early 2014 to fuel the company's growth in retail and small-business lending.

Company
Based in Peterborough, Aldermore is an independent bank that offers lending such as asset and invoice finance, as well as commercial and residential mortgages.

People
Philip Monk is the CEO of Aldermore.

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• Topics
• UK / Ireland
• Exits
• Financials
• AnaCap Financial Partners
• United Kingdom
• Partial sale