Funds managed by Blackstone Tactical Opportunities and TPG Special Situations Partners have agreed to acquire Acenden Mortgage Servicing Solutions from the administrators of Lehman Brothers.
Acenden is a leading mortgage servicing solutions provider. The Company provides primary servicing, special servicing, analytics and securitization services. It has more than 64,000 loans under management, with a value of about £5.4bln (approx. €6.9 mln) (at December 2013). Acenden employs almost 400 staff located in central London, High Wycombe and Dublin.
Amany Attia, Chief Executive Officer of Acenden, said: “We are excited to work with Blackstone and TSSP and believe that Acenden is well placed to benefit in the long term from the collaboration with our new shareholders.”
The transaction is expected to close in early 2015, subject to customary regulatory and antitrust approvals.