Alaris invests $70 mln in recap of alternative lender Amur
Alaris Royalty Corp has invested $70 million in Amur Financial Group Inc, a Surrey, British Columbia-based originator, manager and servicer of home equity loans. Alaris, a Canadian alternative equity firm, committed $50 million in exchange for debt and preferred units in Amur, which will result in an annualized cash distribution of $6.5 million. Alaris also invested $20 million for a minority interest. The deal's proceeds were used for partial liquidity of existing shareholders. Amur facilitates loans for customers looking to use home equity for debt consolidation, renovations and other priorities. Its operates through Alpine Credits, a mortgage originator, and fund management brands.
21 June 2019•5 mins read
