Investec corporate loan book sold to Metrics

Investec metrics credit partners Milton Samios Simon Beissel Andrew Lockhart acquisition

25 March 2021
| By Chris Dastoor |
expand image

Investec Australia has reached an agreement to sell its local corporate and acquisition finance (CAF) loan portfolio to Metrics Credit Partners. 

The acquisition would cement Metrics Credit Partners as the country’s leading non-bank corporate lender, with a portfolio exceeding $6.5 billion.  

Milton Samios, Investec Australia chief executive and country head, said this development would ensure local corporates continued to be served by a highly-regarded local lender.  

“It is a high-quality portfolio, which is a testament to the Investec approach to credit selection and risk management as well as to the Investec CAF team, led by Simon Beissel, which has built this business over the past 10 years,” Samios said. 

Andrew Lockhart, Metrics’ managing partner, said the acquisition would deliver enhanced investment opportunities for Metrics’ clients. 

“This is a great outcome for investors because it will add to the diversity and liquidity across our funds and lead to an uplift in expected total returns,” Lockhart said. 

“The credit quality of this portfolio is sound and provides a great opportunity to expand our relationship with Australian corporate borrowers.”  

The portfolio comprised leveraged finance and fund finance loans to corporates and funds across business services, entertainment, retail, childcare, healthcare, mining services and financial services in Australia.  

Investec’s resource finance and project and infrastructure finance loan portfolios were not included in the sale process, which was run by the Investec corporate advisory team, which would shortly be spun out into a separate independent advisory boutique.  

Investec, which had been in Australia for more than 23 years, was exiting the local market as part of its parent Investec Bank’s move to simplifying its business structure and focus on its principal market in the UK.  

Read more about:



Recommended for you



sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

Chris Cornish

By having trustees supervise client directed payments from their pension funds, Stephen Jones and the federal Labor gove...

2 days 12 hours ago
Chris Cornish

Now we now the size of Stephen Jones' CSOLR tax, I doubt anyone will be employer any new financial adviser from this poi...

2 days 12 hours ago

Amazing ! Between the beginning of licencing Feb 2002 and 2008 this was a very good stable industry.Then the do-gooders...

3 days 7 hours ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

10 months 1 week ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

10 months ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

10 months 2 weeks ago