The investment was made by funds controlled by Centerbridge Partners, L.P., a leading private investment firm, which acquired Tier 2 bonds issued by Aldermore bank plc. This represents Aldermore's second successful capital raise in less than a year after the bank secured a £62 million equity investment from a number of blue-chip investors last September. This investment strengthens Aldermore's position as one of Britain's most strongly capitalised banks.
The new funds will enable Aldermore to continue to meet the strong demand for its accounts and services from both retail customers and small and medium sized enterprises (SMEs), whilst retaining its focus on credit quality. Aldermore now has 65,000 retail depositors, 4,300 residential mortgage customers, and has lent £812 million to over 10,000 SMEs.
Phillip Monks, Aldermore's Chief Executive, said:"We are delighted to secure the participation of another blue-chip investor - and for the ongoing support from our founder investors, AnaCap Financial Partners and Morgan Stanley Alternative Investment Partners. The new funds provide us with the opportunity to do even more to champion Britain's small businesses, the lifeblood of our economy. Our strong capital position also enables us to look at a number of new product and service launches to further meet the needs of our customers. I would like to thank all our investors for the confidence they have shown in Aldermore as we strive to do things differently."
Centerbridge Partners, L.P. is a private investment firm with offices in New York City and London and approximately $20 billion in capital under management. The firm focuses on private equity and credit investments. The firm is dedicated to partnering with world-class management teams across targeted industry sectors to help companies achieve their operating and financial objectives.