Funding Circle, Lloyds Banking Group and TruFin in Investments this week
by admin | Feb 21, 2018 | Wealth management
- Funding Circle has reportedly lined up Morgan Stanley to prepare it for an IPO during the second half of 2018, which is expected to value the business at £1.5bn
- Lloyds Banking Group and Scottish Widows have ended their asset management agreement with Standard Life Aberdeen following the merger of Standard Life and Aberdeen Asset Management in 2017. Standard Life Aberdeen will take a one-off impairment charge of £40m following the cancellation. It is believed the agreement represented around 5% of Standard Life Aberdeen total revenues.
- TruFin has raised £70m through a listing on AIM. TruFin was created through a series of acquisitions by a hedge fund called Arrowgrass, which was set up by former Deutsche Bank staffers. It owns Distribution Finance Capital, Oxygen Finance and working capital finance unit Satago.