Market turmoil has led founder of Bluestone Group Alistair Jeffery to do a management buyout of the lending company. Jeffery has raised his stake from 20% to over 50% after shareholders Barclays Bank and ABN Amro sold down their stake.
What Jeffery never predicted was a global liquidity meltdown that would cut off securitization. The AFR reported today that Jeffery is focusing on growth that doesn’t rely on capital market funding “as anything origination-related is challenging the market.”
A subsidiary of HBOS Australia has funded the MBO.
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