Blackstar Capital Group acquires New Zealand’s Asset Finance Limited
Sep. 06, 2018
LONDON--(BUSINESS WIRE)--Sep 6, 2018--Blackstar Capital Group (BCG) announced today that it has acquired a controlling stake in New Zealand’s Asset Finance Limited. The acquisition broadens BCG’s global presence and seeks to capitalise on the significant opportunities that are present for non-bank financiers in the New Zealand and Australian markets.
The deal sees BCG increase its stake in Asset Finance from 7% to over 70% with the remaining shares retained by existing shareholders.
“This deal is an exciting development that will deliver strategic benefits for both companies,” said Mark Stephens, CEO of Blackstar Capital Group. “By significantly increasing our stake in Asset Finance, we expand BCG’s current portfolio of consumer and business finance, broadening our funding base and strengthening our global presence. Asset Finance will benefit from BCG’s experience and expertise in structured lending and deal origination strategies.”
BCG was established in 2011 as a specialist trade finance firm, offering deal origination, structuring and direct lending solutions. The company has successfully arranged more than $300 million in lending facilities to a broad range of clients in 2018 to date.
Headquartered in Whakatane, Asset Finance is a finance company which provides loans to individuals and companies across New Zealand. Founded in 1997, it has a loan book approaching NZ$20 million (US$13 million) and serves clients through a branch network of branded offices and partner lending agencies.
Notes for Editors
About Blackstar Capital Group
Blackstar Capital Group is a specialist trade finance firm with leading expertise in the origination, structuring and management of trade finance transactions in the global market. It provides structured loan facilities to companies, secured by the goods being traded and/or the receivables created, enabling the company to optimise its own balance sheet and trading cycles to increases productivity, profitability and growth. It provides investors with access to the multi trillion-dollar trade finance sector through uncorrelated, consistent return investment products. Headquartered in London, it has offices and affiliates in Luxembourg, Dubai, Hong Kong, Brisbane and Auckland.
About Asset Finance
Asset Finance Limited is licenced by the Reserve Bank of New Zealand (RBZNZ) as a Non-Bank deposit taker, authorised to raise money from and issue securities to the public. It raises funds from the public by offering debt securities in relation to fixed term deposits. Its lending is provided in the form of a range of consumer loan and business finance solutions with loans ranging from $1,000 to $400,000 or more.
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CONTACT: Blackstar Capital Group
Tel: +44 7501 271 083
KEYWORD: UNITED KINGDOM EUROPE AUSTRALIA/OCEANIA NEW ZEALAND
INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING FINANCE
SOURCE: Blackstar Capital Group
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PUB: 09/06/2018 11:22 AM/DISC: 09/06/2018 11:22 AM