Sancus Lending Group Limited Strategic Joint Venture (6313V)
December 05 2023 - 2:00AM
UK Regulatory
TIDMLEND
RNS Number : 6313V
Sancus Lending Group Limited
05 December 2023
Sancus Lending Group Limited
("Sancus", the "Group" or the "Company")
Strategic Joint Venture between Sancus Lending (Jersey) Limited
and Hawk Group Limited
The Board of Sancus is pleased to announce that it has entered
into a joint venture agreement (the "JV Agreement") with Hawk
Lending Limited ("HLL") to form a new property alternative finance
lender (to trade as "Hawk") and debt advisory business (to trade as
"Westmead Debt Advisers") based and operating in Jersey and focused
on serving international clients with Jersey presence (the "Joint
Venture").
HLL forms part of the Hawk Group, a Jersey-based high-net-worth
family office providing a range of debt and debt-equity solutions
and advisory services, investment solutions and property
development, services, founded by Robert Morton and predominantly
funded by the Morton family.
Under the terms of the JV Agreement, the new Hawk businesses
will be equally owned by Sancus Group and Hawk Group, and Rory
Mepham, CEO of Sancus, and Robert Morton, Chairman of Hawk Group
will be appointed to the board of the Joint Venture. The new Hawk
business, which will focus on development and bridge finance,
represents a union of expertise, capital, and lending market
experience. It is expected to provide access to a wider pool of
potential co-funders and wholesale finance opportunities. Funding
for the Joint Venture's lending operations will be provided through
a combination of funding sources including a GBP30 million facility
provided by the Morton Family, the respective existing co-funder
networks, existing and new loan notes, and other institutional
sources of funding, including the Sancus Group's GBP125 million
facility with Pollen Street Capital (subject to relevant
criteria).
All staff from Sancus Lending (Jersey) Limited and Hawk Group
Limited are expected to ultimately be retained and employed by the
Joint Venture. Existing loan assets will continue to be managed by
Sancus Lending (Jersey) Limited and HGL respectively, with new
business being managed through the Joint Venture, and ensuring a
seamless transition.
Rory Mepham, CEO at Sancus, commented: "This joint venture with
Hawk gives Sancus the opportunity to partner with a highly
respected local family office. We are bringing together the best of
our respective businesses and are confident that this will enable
the diversification of our funding sources, and variety of products
offered to clients to further grow our Assets Under Management. We
are also very excited by the opportunities that developing a debt
advisory business presents and look forward to growing that
business in both Jersey and further afield."
Robert Morton, Chairman, Hawk Group Limited, stated: "This
strategic partnership signifies an important step towards realising
our vision for a more dynamic and robust lending landscape in
Jersey. The joint venture strategically aligns the collective
strengths of Sancus and Hawk to capitalise on existing market
opportunities and allows for the identification and maximisation of
untapped potential, positioning Jersey at the forefront of debt
solutions."
For further information, please contact:
Sancus Lending Group Limited
Rory Mepham +44 (0)1534 708 900
Liberum Capital (Nominated Adviser
and Corporate Broker)
Lauren Kettle
Chris Clarke
William King +44 (0) 20 3100 2000
Instinctif Partners (PR Adviser)
Tim Linacre +44 (0)207 457 2020
Sanne Fund Services (Guernsey)
Limited
(Company Secretary)
Matt Falla +44 (0)1481 755 530
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END
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