Blackstone acquires Lehman brothers' UK mortgage firm

Investment firm, Blackstone Tactical Opportunities, and TPG Special Situations Partners (TSSP) has acquired Acenden Mortgage Servicing Solutions from the administrators of Lehman Brothers.

Mortgage servicing solutions provider, Acenden, offers primary servicing, special servicing analytics and securitisation services as well as managing more than 64,000 loans with a value of around £5.4 billion.

Chief Executive Officer of Acenden, Amany Attia, said they are delighted to be working with Blackstone and TSSP.

“We are excited to work with Blackstone and TSSP and believe that Acenden is well placed to benefit in the long term from the collaboration with our new shareholders,” said Amany Attia.

Previously part of Lehman Brothers bank under the name Capstone and in 2010 the business launched as a standalone third party mortgage outsourcing solutions provider and rebranded as Acenden.

The acquisition is expected to be completed in early 2015 and is subject to customary regulatory and antitrust approvals.