PE-backed Target buys Freedom Finance

JZ International, the personal investment company of JZ Capital Partners senior management team, is understood to be selling Freedom Finance via the sale to Target. 

The acquisition extends Target's offering to include brokerage and technology. Freedom stated that it intends to develop partnerships with other financial services businesses held in the SOF Annex Fund portfolio.

SOF Investments is the investment arm of RBS and the manager of the Special Opportunities Fund. The vehicle focuses on companies in the financial and business services sectors.

In 2012, RBS used its Special Opportunities Fund to provide growth capital funding to Target Group.

^Company
Founded in 2007, Freedom Finance offers secured and unsecured loans. The business was reported to have been hit by the mis-selling of payment protection insurance in recent years.

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