Specialist investor in financial services companies and distressed portfolios, AnaCap, has acquired Cabot Financial, Financial Times reports. AnaCap is estimated to have paid about £90 million for Cabot Financial to Citigroup. As part of the deal, Cabot Financial will merge with Apex Credit Management, a debt purchasing and collection firm owned by AnaCap, with combined assets worth £5.6 billion. AnaCap has co-invested with Morgan Stanley Alternative Investment Partners and the private equity firm, Partners Group, in the acquisition.
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