Lehman administrators to sell Acenden Mortgage Servicing Solutions

By Caroline Salls

Pittsburgh, Jan. 7 – Lehman Brothers’ administrators agreed to sell Acenden Mortgage Servicing Solutions to funds managed by Blackstone Tactical Opportunities and TPG Special Situations Partners, according to an Acenden news release.

“We are excited to work with Blackstone and TSSP and believe that Acenden is well placed to benefit in the long term from the collaboration with our new shareholders,” Acenden chief executive officer Amany Attia said in the release.

The transaction is expected to close in early 2015, subject to regulatory and antitrust approvals.

Acenden is a mortgage servicing solutions provider. It has more than 64,000 loans under management, with a value of about £5.4 billion at December 2013.

Previously a part of Lehman Brothers bank known as Capstone, the business was launched in 2010 as a stand-alone third-party mortgage outsourcing solutions provider and rebranded as Acenden, according to the release.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company emerged from bankruptcy on March 6, 2012.

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