TowerBrook launches new banking entrant

20 November, 2009 - TowerBrook Capital Partners L.P. (“TowerBrook”) has today announced that it is leading the creation of a new independent commercial lending institution called Haymarket Financial (“HayFin”). Public Sector Pension Investment Board (“PSPIB”) and OMERS Private Equity (“OPE”) are investing alongside TowerBrook in this transaction.

Headquartered in London and funded entirely by permanent equity capital of approximately $700m, HayFin will be an important new entrant in the corporate lending market. The Management team believes that the supply of credit, particularly to mid-sized companies in Europe, will remain disrupted for some time. HayFin intends to take advantage of the structural changes in the market to establish a lending business and will provide capital for growth and acquisitions as well as debt refinancing and balance sheet restructuring.

The Company is run by a seasoned management team with many years of combined experience gained at some of the leading financial institutions in the world. The team is led by Tim Flynn, CEO, Steven Zander, Chief Investment Officer and Jeff Sockwell, Head of Direct Lending.

Back