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The lending arm of wealth advisory group Centric Wealth – Centric Lending Services – has welcomed a major investment in the group from CHAMP Private Equity.
The $80 million investment by CHAMP, announced earlier this week, will see funds advised by CHAMP become the majority shareholder of the company, with a 75 per cent stake.
Commenting on the deal, Sheyne Walsh, Centric Lending Services joint head of lending, told Mortgage Business “[Centric] Lending is very pleased that Centric Wealth has achieved such a significant investment in the current financial climate, and has done so while maintaining its independence from the lenders”.
“We look forward to growing the business, and with CHAMP’s support, we are now in a position to take advantage of any suitable opportunities that arise in the market place.”
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