The AA is the largest roadside assistance provider by market share in the UK, servicing a large portion of the consumer and manufacturer segments, as well as the UK’s largest fleet and leasing companies. With more than 115 years of operating history, the AA is one of the most widely recognized and trusted brands in the UK and has effectively built upon this brand to become an established provider of insurance broking, insurance underwriting and driving services.

Access utilizes proprietary analytics and a flexible technology platform to provide various credit and related financial services and products to the financially underserved consumer credit market. Access applies the experiences gained and infrastructure built from servicing over $25 billion in consumer loans over its 23-year operating history, to support lenders who originate a range of consumer loan products. These products include retail credit and credit cards marketed through multiple channels, including retail point of sale, direct mail solicitation and partnerships with third parties.

ApplePie SPV was a vehicle formed in 2016 by TowerBrook’s TSO Fund I in partnership with ApplePie Capital to make investments in the specialty franchise lending space. The vehicle provided funding that enabled ApplePie to originate franchise finance loans to prime borrowers operating select brands. ApplePie SPV disposed of substantially all of its loan portfolio in 2018.

During the period of TowerBrook’s TSO II investment, Battea Class Action Services was a provider of securities claims management services to nearly 1,000 global financial institutions, including many of the world’s largest banks, hedge funds, asset managers and buy-side investors. TowerBrook exited its investment in 2024 via a sale to a wholly owned subsidiary of SS&C Technology Holdings Inc.

During the period of TowerBrook Fund III’s investment, Capquest was a UK-based consumer debt purchase and debt recovery company. Capquest was focused on the purchase of non-performing and semi-performing unsecured consumer loans, mainly comprising credit card and bank debt, using a proprietary, adaptive pricing process based on data from its collection business. TowerBrook exited its investment in 2014 via the sale of Capquest to Arrow plc, a UK-based debt purchaser.

CAVU Investment Partners is a vehicle that was formed in 2019 to make investments in CLO equity. The joint venture was formed in partnership with LibreMax Capital, a c.$6 billion hedge fund specializing in structured and corporate credit, and is primarily focused on investing in new-issue CLO (collateralized loan obligation) equity originated by Trimaran Advisors, an established CLO manager and wholly-owned subsidiary of LibreMax.

Coaction is a provider of property and casualty insurance to numerous specialty markets in the United States. Headquartered in Morristown, New Jersey, and licensed in all 50 states, Coaction writes business across five verticals: casualty, property, professional lines, entertainment and binding authority. Coaction’s products are sold through a limited and select group of retail and wholesale distribution partners.

The combination of Equals Money and Railsr has created one of the largest embedded finance providers in Europe. Equals Money brings multi-currency accounts, FX, corporate cards, and financial solutions, alongside Railsr’s pioneering embedded finance, Banking-as-a-Service and Cards-as-a-Service infrastructure.

During the period of TowerBrook’s TSO I investment, Fortiva was the consumer credit card division of Atlanticus Holdings (NASDAQ: ATLC), an originator, servicer and acquirer of consumer receivables. ATLC had operated in the consumer finance space for over 20 years and serviced over 17 million consumers to support banks that provided over US$25 billion in loan originations using Fortiva’s platform.

Hayfin was created in 2009 to take advantage of opportunities resulting from structural changes in the debt capital markets. During the period of TowerBrook Fund III’s investment, Hayfin was a specialty commercial lender offering focused lending products to corporate clients. The company operated a direct lending business that originated corporate loans directly from companies via a proprietary origination network, and a capital markets business that invested in corporate credit available for sale in the secondary markets.

During the period of TowerBrook Fund II’s investment, Ironshore, Inc. provided specialty commercial insurance globally. The company operated from three platforms: Bermuda, which provided property and energy insurance via a global property unit and excess casualty insurance; the US, which provided a wide array of admitted and non-admitted coverage; and International, operating from the UK as Lloyd’s Syndicate 4000, writing marine specialty insurance, marine reinsurance, professional liability insurance, and property insurance.

During the period of TowerBrook Fund II’s investment, Ladder Capital Finance Holdings LLP was a vertically integrated, full-service commercial real estate (CRE) finance and investment management company. Ladder was formed in September 2008 to take advantage of long-term, structural changes in the CRE lending market in the US. The company’s business was to underwrite, structure, acquire, manage and distribute CRE mortgages and other CRE debt instruments. In February 2014, Ladder completed an IPO on the New York Stock Exchange.

Founded in 1998, Newtek is a publicly-traded financial holding company that provides a range of lending, loan servicing, and business solutions to small- and medium-sized businesses, servicing over $3.7 billion loans across over 100,000 obligors. Newtek-TSO II Conventional Credit Partners, LP is a joint vehicle formed in 2022 between TowerBrook and Newtek to acquire small-balance commercial real estate loans and conventional business loans at an attractive risk-return profile leveraging Newtek’s over-a-decade experience and data in originating primarily SBA loans.

During the period of TowerBrook’s Fund IV investment, Orchid was a managing general underwriter providing specialty property and casualty insurance products to homeowners, high net worth individuals, and small businesses, primarily in coastal regions throughout the US and the Caribbean. Orchid provided proprietary insurance solutions for hard-to-place risks to a growing, national network of retail agents and other strategic distribution partners.

Founded in 2007 and headquartered in New York, PennantPark is an independent middle market credit platform, with $5.2 billion in assets under management. TowerBrook and PennantPark jointly established the PennantPark-TSO Senior Loan Fund, to acquire senior secured term loans originated by PennantPark.

Precede Capital is a platform that provides financing to experienced property developers for residential development projects across the UK. It originates, underwrites and manages senior and stretch-senior loans of £50m+ and is headquartered in London. The platform was formed by TowerBrook in 2021 in partnership with a management team with a 15+ year history in real estate finance.

Premium Credit is a provider of specialty finance services, operating in the UK and Ireland. The business provides instalment finance options for insurance premiums and a range of other annually charged fees and services, including taxes, regulatory and accountancy fees, sports season tickets and memberships and school fees. A multi-award winning, purpose-led company, each year the business lends c£5 billion to 2.3 million personal and commercial customers through a network of three thousand partners.

Rewards Network is a network-based marketing services and financial technology company serving the US credit card, loyalty and restaurant industries. The company sits at the intersection of affluent credit card users, restaurants, loyalty programmes, issuing banks and payment networks. A merchant-funded rewards programme, its key value-add is driving “top of wallet” preference for credit card issuers and payment networks, and shifting consumer spend towards Rewards Networks’ merchants.

TowerBrook Litigation SPV is a vehicle formed in 2016 to make investments in the emerging litigation finance space. The vehicle was formed in partnership with an established litigation finance company with a proven 20+ year track record to pursue a focused strategy within specific segments of the litigation finance market.

During the period of TowerBrook Fund I’s investment, Unison Site Management was a specialised investment platform that acquired and aggregated permanent easements, including existing ground leases with wireless service providers or tower operators for existing cellular towers from site landowners. Unison generated revenues by managing and ultimately selling portfolios composed of these sites. After successfully exiting its first portfolio of leases via a sale to Goldman Sachs in 2008,

Validity Finance is a litigation finance platform primarily focused on investing in pre-judgment commercial (business-to-business) litigation. It provides capital to attorneys and their clients to pursue claims in the U.S. justice system. The company was formed by TowerBrook in partnership with a management team with a 10+ year funding history in the asset class.