German asset manager eyes UK P2P investments
Germany-based asset manager NordIX AG is actively seeking out investments in UK-based peer-to-peer lending platforms, Peer2Peer Finance News can reveal.
The new allocations will be made via the NordIX European Consumer Credit Fund, with a minimum commitment of €5m (£4.19m) per platform.
Claus Tumbrägel, managing partner at NordIX AG, told Peer2Peer Finance News that the firm is seeking to make investments in at least 20 UK and European platforms over the next two years.
“The UK is the most advanced market in Europe with regards to volume, track record and business models,” he said.
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“Given our ambition to grow our funds to at least €500m in assets under management (AUM) within in the next 24 months we will need partners in the UK to build a granular portfolio diversified over at least 20 different platforms.”
The asset manager launched the NordIX European Consumer Credit Fund in April 2021. Since then, it has set up forward flow agreements with four European P2P platforms – Fellow Finance, Lend, Neo Finance and Mozzeno. It has also invested in two buy-now, pay later platforms – Spray and PayIn7.
Tumbrägel said that the investor is now looking for UK P2P platforms which specialise in consumer lending.
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“In general, we require a track record of three years and want to be able to grow our investment by increasing the AUM of our funds,” he added.
“The funds can only buy consumer loans which can be secured or unsecured. Within that space we are very open minded and only a few limitations apply.
“We do not do pay day loans and we set APR limits since our funds will apply ESG factors. We will not fund more than 20 per cent of the production of a single platform.”
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