Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

2004

Octopus sells stake in TDX Group

RELATED TOPICS​

Octopus Investments has sold the majority of its 6.3 per cent holding in TDX Group, a provider of analytics-based consumer debt management services, for approximately GDP2.6m.

Octopus Investments has sold the majority of its 6.3 per cent holding in TDX Group, a provider of analytics-based consumer debt management services, for approximately GDP2.6m.

This represents a total return of 9.7x for investors in the Octopus Eclipse VCT. 
 
The sale forms part of a larger transaction in which Investcorp Technology Partners, the technology private equity arm of alternative investment manager Investcorp, has purchased a 40 per cent equity holding in TDX Group for approximately GDP28m.

Octopus will continue to hold a minority stake in TDX.
 
Established in 2004, TDX Group assists its clients in maximising the value of arrears debt portfolios through analytics and data driven asset sales, recoveries management and financial difficulties service platforms. 

In the UK, TDX Group sells over 40 per cent of all defaulted unsecured consumer debt and, by the end of 2008, the company’s recoveries management platform will manage approximately five million accounts.   
 
Chris Allner, head of Octopus Private Equity, says: ‘In TDX Group and its high calibre management team, we identified a business with strong growth potential and a unique offering capable of providing a differentiated service in its target markets. Since then, the business has become the market leading provider of consumer debt management services in the UK and we are delighted that investors in our Eclipse VCT are now reaping substantial rewards from this investment.’
 
The announcement represents the exit of the first investment made by Octopus Eclipse VCT and is the sixth exit across all the Octopus Eclipse VCTs.

Latest News

The trading and investment platform eToro has extended its proxy voting feature to all stocks..
C8 Technologies, the London-based fintech founded by former BlueCrest Capital Management partners Mattias Eriksson and..
DWS has announced the latest development in its strategic growth push in Alternative Credit with..

Related Articles

Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Pension funds
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are coming together to instigate a new industry coalition...
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by