Blackstone and TPG buy Acenden out of administration
Blackstone Tactical Opportunities and TPG Special Situations Partners have jointly acquired Acenden Mortgage Servicing Solutions from the administrators of Lehman Brothers.
The company was previously part of Lehman Brothers and known as Capstone. It became a standalone third-party mortgage outsourcing business in 2010 when it rebranded to Acenden.
The deal follows Blackstone and TPG's joint £180m investment in UK subprime mortgage lender Kensington Group in September 2014.
Company
Acenden is a mortgage services provider, supplying primary servicing, special servicing analytics and securitisation services. The company has 64,000 loans under management, which carry a combined value of £5.4bn.
Acenden employs 400 people at its offices in London, High Wycombe and Dublin.
People
Amany Attia is CEO of Acenden.
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