JC Flowers eyeing up UK mortgage books
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JC Flowers, the American private equity firm, is reported to be looking to buy UK mortgage books.
The Daily Telegraph reports that the firm has moved onto its “Plan B” for the UK market after it lost out to Virgin Money in the £1bn auction for the state-owned bank.
The paper also reports that the move follows its failure to secure the purchase of Principality Building Society, which it had hoped to merge into its OneSavings Bank vehicle, which was formed from its acquisition of the Kent Reliance Building Society last year.
According to the newspaper, the firm has £1.5bn to invest in the UK financial sector.
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