Aldermore bank, raises £36 million to fund continued support for small businesses

Aldermore, one of Britain’s leading challenger banks and a participant in the government’s National Loan Guarantee Scheme, is pleased to announce that it has successfully raised £36 million of new capital.

The investment, (made by funds controlled by Centerbridge Partners, L.P., a leading private investment firm), strengthens Aldermore’s position as one of Britain’s most strongly capitalised banks.

The new funds will enable Aldermore to continue to meet the strong demand for its accounts and services from both retail customers and small and medium sized enterprises (SMEs), whilst retaining its focus on credit quality. Aldermore now has 65,000 retail depositors, 4,300 residential mortgage customers, and has lent £812 million to over 10,000 SMEs.

Phillip Monks, Aldermore’s Chief Executive, said: “We are delighted to secure the participation of another blue-chip investor - and for the ongoing support from our founder investors, AnaCap Financial Partners and Morgan Stanley Alternative Investment Partners. The new funds provide us with the opportunity to do even more to champion Britain’s small businesses, the lifeblood of our economy. Our strong capital position also enables us to look at a number of new product and service launches to further meet the needs of our customers. I would like to thank all our investors for the confidence they have shown in Aldermore as we strive to do things differently.”

About Aldermore

Aldermore was borne out of the merger of Ruffler Bank Plc and Base Commercial Mortgages Ltd in May 2009, and was the first British bank to be wholly owned by a private equity firm, AnaCap Financial Partners LLP.

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News Sources:
http://www.aldermore.co.uk/about/news-press-releases/2012/05/aldermore-raises-%C2%A336-million-to-fund-continued-support-for-small-businesses/

http://www.aldermore.co.uk/about/news-press-releases/2010/01/ald001/

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