Aldermore acquires bridging heavyweight Octane Capital

Aldermore has acquired a portfolio of bridging finance loan assets and associated capability from the specialist lender.

B&C understands that the bank has acquired the entirety of Octane.

The £465m loan portfolio transaction has been funded from Aldermore's existing internal cash resources in the ordinary course of business.

Commenting on the portfolio acquisition, Ross Dalzell, managing director of Property at Aldermore, commented: “This will enable the group to further grow its client base by offering specialist bridging finance capabilities.

“The strength of Aldermore's balance sheet will allow the group to access higher-quality and better-margin opportunities within this niche sector, delivering attractive risk-adjusted returns."

Exclusive coverage of the acquisition will follow on B&C soon.

Octane launched in 2017 and has lent over £2bn since its inception.