LC Advisors has rebranded its asset management business as LendingClub Asset Management (LCAM). The firm aims to deliver access to the consumer credit asset class for institutional and high-net worth investors.
“We spent the past year listening to our investors as we evolve into a solutions-oriented asset management business,” says Raman Suri (pictured), President of LCAM. “As the market has grown, investors are asking for more than just access. We’re responding to our clients’ increased demand for the asset class by building a more complete range of fund or fund-like structures delivered in ways that make the investing process simple. We’re committed to growing this business and creating value for investors.”
LCAM is committed to democratising access to the consumer credit asset class and to leading innovation within the industry. In the near future, LCAM will leverage its enhanced investment management expertise to collaborate with qualified investors to create bespoke solutions specific to their needs.
“This is a veteran team, all of whom have been in senior roles at major asset managers and understand the complexities of this industry,” says Richard Arney, Independent Chairman of the Governing Board for LCAM. “I’m very impressed with the process they used to restructure the funds and the overall focus on investors.”
In the weeks leading up to the rebrand, LCAM, utilising the services of a third-party intermediary and with oversight of its Governing Board, facilitated the successful auction of assets from its legacy funds. The competitive auction resulted in an accelerated return of capital to investors at attractive values, highlighting the growing depth and maturity of the consumer credit asset class.
