Aladdin, investor consortium to buy Pepper Homeloans
A consortium of investors, including private equity firm Aladdin Capital, have bought out Australian mortgage lender and service provider Pepper Homeloans for A$20 million ($17.5 million), a figure that reportedly leaves current owners Merrill Lynch and CIR SpA (Compagnie Industriali Riunite) facing a loss.
Pepper launched in 2001 and claims to manage total loans of approximately A$4.5 billion ($3.9 billion). According to reports, Pepper's two key prior shareholders were Merrill Lynch and Italy's CIR, both...
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