Pepper has purchased the business from private equity investor Pamplona Capital Management LLP and a small group of individual investors comprising current and former members of the Oakwood team led by Richard Klemmer and Laurence Morey.
Pepper’s group managing director and chief executive Patrick Tuttle said: “Oakwood is the UK’s leading specialist loan servicing and asset management platform. Its track record in managing both performing and non-performing residential and commercial mortgage portfolios is second to none and the management team led by Richard Klemmer is among the best in the UK market.”
Oakwood is a financial services company specialising in valuing, trading and managing portfolios of financial assets primarily performing and non-performing residential and commercial mortgages.
Michael Culhane, Pepper’s executive chairman, said: “This acquisition further extends Pepper’s servicing-led strategy to acquire high quality loan servicing platforms led by high calibre management teams in our targeted European markets, including Ireland, Spain, the United Kingdom and Italy.
“As the founder of both Oakwood and Pepper, I am delighted to see these two great businesses joining forces in Europe; I think we will make a formidable combination.”
