Freshfields Bruckhaus Deringer advised Blackstone and Sixth Street on completion of Kensington Mortgages sale to Barclays
Freshfields Bruckhaus Deringer advised Blackstone and Sixth Street on completion of Kensington Mortgages sale to Barclays
Based in Maidenhead, the lender originated approximately £1.9 billion in mortgages in the year ending 31 March 2022
Freshfields Bruckhaus Deringer has advised companies controlled by funds managed by or affiliated with Blackstone Tactical Opportunities and Sixth Street Partners on the completion of the sale of Kensington Mortgages to Barclays Bank UK PLC.
Mortgage lender Kensington, which is based in Maidenhead, has around 600 employees. Last year, it originated approximately £1.9 billion of mortgages, including retentions.
Since 2015, Blackstone and Sixth Street jointly owned the business. Meanwhile, Kensington improved its processes and expanded its product offerings while achieving an extended period of accelerated growth.
In the industry, the business is recognized for having a market-leading data and technology platform. It has facilitated profitable growth, product innovation, and exceptional loan underwriting performance.
The Freshfields Bruckhaus Deringer team advising long-standing clients Blackstone and Sixth Street was led by London-based private equity partner James Scott, senior associate Jay Swain, and associates Oscar Berry, Nick Surgey, Stephanie Paterson, and Harry Parkhouse.
The team also included tax partner Peter Clements, financial regulatory partner James Smethurst, and antitrust partner Tom McGrath.
