Business
Strategic Joint Venture
Strategic Joint Venture.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n\nSancus Lending Group Limited\n(\"Sancus\", the \"Group\" or the \"Company\")\n \nStrategic Joint Venture between Sancus Lending (Jersey) Limited and Hawk Group Limited\n \nThe Board of Sancus is pleased to announce that it has entered into a joint venture agreement (the \"JV Agreement\") with Hawk Lending Limited (\"HLL\") to form a new property alternative finance lender (to trade as \"Hawk\") and debt advisory business (to trade as \"Westmead Debt Advisers\") based and operating in Jersey and focused on serving international clients with Jersey presence (the \"Joint Venture\").\n \nHLL forms part of the Hawk Group, a Jersey-based high-net-worth family office providing a range of debt and debt-equity solutions and advisory services, investment solutions and property development, services, founded by Robert Morton and predominantly funded by the Morton family.\n \nUnder the terms of the JV Agreement, the new Hawk businesses will be equally owned by Sancus Group and Hawk Group, and Rory Mepham, CEO of Sancus, and Robert Morton, Chairman of Hawk Group will be appointed to the board of the Joint Venture. The new Hawk business, which will focus on development and bridge finance, represents a union of expertise, capital, and lending market experience. It is expected to provide access to a wider pool of potential co-funders and wholesale finance opportunities. Funding for the Joint Venture's lending operations will be provided through a combination of funding sources including a £30 million facility provided by the Morton Family, the respective existing co-funder networks, existing and new loan notes, and other institutional sources of funding, including the Sancus Group's £125 million facility with Pollen Street Capital (subject to relevant criteria). \n \nAll staff from Sancus Lending (Jersey) Limited and Hawk Group Limited are expected to ultimately be retained and employed by the Joint Venture. Existing loan assets will continue to be managed by Sancus Lending (Jersey) Limited and HGL respectively, with new business being managed through the Joint Venture, and ensuring a seamless transition.\n \nRory Mepham, CEO at Sancus, commented: \"This joint venture with Hawk gives Sancus the opportunity to partner with a highly respected local family office. We are bringing togeth...