Pepper Money’s Acquisition of Optimum Credit

Hogan Lovells is advising the pan-European institutional investor focused on property-backed investments Patron Capital on the sale of its portfolio company Optimum Credit to Pepper Money.

Completion of the transaction is subject to FCA approval.

Optimum Credit, which is based in Cardiff, was backed by Patron Capital in 2014 and offers a range of variable, fixed and discounted second-charge mortgages to homeowners in England, Wales and Scotland. Optimum has a UK second-charge loan book of more than £450 million.

Patron Capital has raised over €3.4 billion of capital across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses. Patron has operations across Europe with advisory offices in the UK and Luxembourg, offices in Germany, Spain and Italy.

Hogan Lovells advise Patron with a team including London M&A partner John Connell (Picture). John was assisted by Hannah Logan and Chris Ramsey. London financial institutions partner Jon Chertkow and Steve Timbrell advised on financial regulatory matters. Patron was also advised by Houlihan Lokey.

Involved fees earner: John Connell – Hogan Lovells; Hannah Logan – Hogan Lovells; Chris Ramsey – Hogan Lovells; Jonathan Chertkow – Hogan Lovells; Stephen Timbrell – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Patron Capital Partners;