Castlelake, a global alternative investment manager with 20 years of experience investing in asset-based private markets, agreed to provide a new £95 million facility to Equifinance, a specialist second charge mortgage lender.
The financing will support Equifinance’s origination of second lien residential mortgage loans and leverages Castlelake’s experience in the UK mortgage market.
“We are pleased to form this relationship with Equifinance as it continues to scale its platform and provide products that meet the needs of prime and near-prime consumers,” Alexander Curcio, partner at Castlelake, said. “As an established and scaled originator, we believe that Equifinance can offer our investors what we believe to be attractive risk-adjusted exposure to the UK second lien mortgage market, which is an area where we have significant experience and see opportunities for growth.”
“This financing from Castlelake will enable us to continue to scale our lending capabilities to deliver lending products which meet the needs of our consumers across the UK,” Chris Payne, chief financial officer at Equifinance, said.
