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Old faces in Cerberus camp for Westpac auto


Old faces in Cerberus camp for Westpac auto
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Alternatives bigwig Cerberus Capital is putting the band back together for Westpac’s auto loans divison auction.
Cerberus, headed in Australia by former CVC dealmaker David McWilliam, and its portfolio company Angle Finance are into the Westpac auction’s second round.
While Cerberus’ team is capable of putting the bid together, it is understood the firm has retained Sydney-boutique Faraday Associates for some strategic and financial advice.
Street Talk.  
Peter Braig
Cerberus is making the bid via Angle Finance, which is its Australian non-bank lender that snapped up the Westpac’s vendor finance business last year. Faraday helped Cerberus with that acquisition, along with law firm Allens and financiers including Morgan Stanley, SocGen and Citi. ....

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Pepper sees growth where banks won't go


Pepper sees growth where banks won’t go
The boss of non-bank lender and IPO prospect Pepper Group, says emotion is helping to drive the hot housing market and expects the scars left by COVID to provide an opportunity for growth.
Apr 12, 2021 – 12.00am
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Mario Rehayem, the chief executive of Australia for leading non-bank lender and highly-touted IPO prospect Pepper Group, sees the house price boom a little differently from his big-bank counterparts.
House prices might be surging, but lenders aren’t letting standards slip, the boss of Pepper Group says.  
David Rowe
There’s no doubt post-COVID-19 consumer confidence is helping to fuel the recent jump in prices. And the Reserve Bank’s promise to keep interest rates low for the next three years has been well and truly heeded by borrowers. ....

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