Hogan Lovells advises on Patron Capital's sale of Optimum Credit to Pepper Money

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 is supporting the Patron team, led by Ashish Kashyap and Daniel Cohn. The Hogan Lovells team was led by London M&A partner John Connell. 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. 

Commenting, John Connell said "The depth and breadth of our financial regulatory practice, combined with our M&A and private equity expertise, makes Hogan Lovells ideally suited to advise on transactions of this nature. We know this market very well and we are delighted to have assisted Patron on this strategic and important divestment – which is the first UK M&A transaction we have done together."

About Patron Capital Partners

Patron represents approximately €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.

Since it was established in 1999, Patron has invested in over 75 investments and programs involving over 65 million square feet (6 million square metres) in 16 countries, with many of these investments realised.

Investors represent a variety of sovereign wealth funds, prominent universities, major institutions, private foundations, and high net worth individuals located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the Funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona, Milan and Luxembourg; the group is comprised of 76 people, including a 42-person investment team.

Further information about Patron Capital is available at www.patroncapital.com


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