Blackstone Group L.P. (BX) said that Funds managed by Blackstone Tactical Opportunities or "Blackstone" and TPG Special Situations Partners or "TSSP" have agreed to acquire Acenden Mortgage Servicing Solutions from the administrators of Lehman Brothers.
Acenden is a mortgage servicing solutions provider. It provides primary servicing, special servicing, analytics and securitisation services. It has more than 64,000 loans under management, with a value of about £5.4bn (at December 2013). Acenden employs almost 400 staff located in central London, High Wycombe and Dublin.
The transaction is expected to close in early 2015, subject to customary regulatory and antitrust approvals.
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