Palamon Capital Partners is selling portfolio company SAV Credit to Värde Partners in a deal worth £472 million. SAV Credit is U.K.’s major non-standard credit card provider, handling more than £600 million in credit card assets.
Palamon teamed up with SAV Credit’s co-investors Morgan Stanley Alternative Investment Partners and Electra Private Equity for this transaction. The deal, expected to provide a double-digit rate of return over a nine-year period for the Palamon funds, is subject to competition clearance.
Click here for the release from Palamon Capital Partners.