26th Aug 2014 09:19
LONDON (Alliance News) - P2P Global Investments PLC Tuesday said it invested in June about 19% of the GBP200 million gross proceeds raised under its initial public offering, with the majority deployed into US consumer loans where sub-manager Eaglewood Capital Management LLC has established origination through large consumer lending platforms.
"In addition to deployment, I am pleased to report that discussions to widen the range of P2P platforms that the company can acquire assets through is progressing well with active discussions taking place with platforms in the US, UK and Western Europe," Chairman Stuart Cruickshank said in a statement.
"In line with our stated intent, the company has made its first equity investments in the period in both the USA and UK. We will continue to pursue such equity investment opportunities with platforms where they arise alongside current or future lending opportunities," Cruickshank said.
Cruickshank also said the company has commenced discussions with banks across Europe in anticipation of introducing leverage into the portfolio.
Marshall Wace LLP is the company's investment manager.
P2P shares were Tuesday quoted up 0.3% at 1,072.50 pence.
By Samuel Agini; [email protected]; @samuelagini
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