The bid by the AnaCap Financial-led consortium also includes fellow private equity group Blackstone, and it is believed that an offer for the Royal Bank of Scotland branches will be made this week, according to the Financial Times.
London-based AnaCap Financial Partners completed the first private equity buyout of a UK bank in 2009 when it bought Ruffler Bank, a lender later renamed Aldermore.
AnaCap and Blackstone partnered back in October of last year, stating its intention to invest in Europe’s banking and financial services sector. News of a potential RBS bid by the group surfaced a month later.
Former First Direct Chief Executive Alan Hughes is reportedly leading the bid on behalf of the consortium, and the performance of the internet bank is also likely to help in the assessment of Mr Hughes and the consortium.
Aldermore Bank has seen significant expansion in all of its business areas over the past 18 months, with overall lending up by over 75 per cent in 2012 and 34 per cent in H1 2013. Its total balance sheet has also passed the £3 billion mark for the first time this year – rising to £3.19 billion.
The challenger bank has also demonstrated a significant contribution to supporting UK householders and SMEs with increased net lending by consistently appearing within the top six lenders, out of the 40 participants, in the Funding for Lending Scheme (FLS).
The consortium is one of three groups expected to table bids ahead of this week’s unofficial midweek deadline. The two other bidders in the running are a group led by Corsair and a group of UK asset managers.
It is thought the bid by the AnaCap-led consortium will be structured as a joint venture with RBS at first with a view to listing the business, the title added.
RBS is having to sell the 316 branches under EU state aid rules following its £45 billion bail-out at the height of the 2008 banking crisis.
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