European Alternatives Investment Manage, LCM Partners has announced that it has acquired a substantial portfolio of secured, non-performing SME loans from Grupo Cooperativo Cajamar in Spain. The portfolio comprises approximately 1,200 loans, predominantly secured against granular residential real estate assets on the East and South coast of Spain.

Adrian Cloake, Chief Investment Officer, LCM Partners said “Through our LCM funds we have deployed increasing amounts of capital into buying secured and SME loans in recent years and our Link servicing business in Spain doubled the size of its platform in 2017 so we are delighted to have acquired such a high-quality mortgage portfolio which plays to our strengths.”

Paul Burdell, Chief Executive Officer, LCM Partners said “We have been active in the Spanish non-performing loan market since 2004 and now have a large, well-established local presence. This is our second substantial acquisition there in the last nine months and fourth transaction in Spain this year.  Levels of market activity have certainly increased and this transaction is testament to our ability to source attractive non-performing loan investments for our Limited Partners.”