Maitland/AMO advises on the IPO of P2P Global Investments
Maitland/AMO announced the IPO of P2P Global Investments, the world's first quoted fund investing in the peer 2 peer and online lending sector. The sector is growing at 140% CAGR and is expected to issue £5bn of loans in the UK this year.
Peer 2 Peer lenders such as Zopa, Ratesetter and Funding Circle connect lenders and borrowers and are picking off the best and most reliable borrowers in the SME and consumer sectors. Approximately 90% of initial inquiries are refused.
The ramifications for the banking industry of this fast growing sector are potentially huge.
P2P Global Investments is an investment trust effectively managed by Eaglewood, a new P2P subsidiary of our existing client Marshall Wace. It will yield 6-8%. They are raising £200m and will be quoted on the main list and the broker is Liberum.
The Maitland/AMO team is Andy Donald
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