LONDON (ShareCast) - (Sharecast News) - Sancus Lending Group announced on Tuesday that it was partnering with Hawk Lending to establish a new property alternative finance lender and debt advisory business in Jersey.
The AIM-traded firm said the collaboration, operating under the names 'Hawk' and 'Westmead Debt Advisers', would cater to international clients with a presence in Jersey.

It said Hawk Lending is part of the Hawk Group - a prominent Jersey-based family office led by Robert Morton.

The Hawk Group specialises in offering a range of debt and debt-equity solutions, advisory services, investment solutions, and property development services and is primarily funded by the Morton family.

As part of the joint venture agreement, the new Hawk businesses would be evenly owned by Sancus and Hawk Group.

The joint venture board would include Sancus chief executive Rory Mepham and Hawk Group chairman Robert Morton.

Sancus said the new business's primary focus would be development and bridge finance, leveraging both entities' combined expertise, capital, and lending market experience.

The collaboration was expected to open doors to more potential co-funders and wholesale finance opportunities.

Funding for the joint venture's lending operations would be drawn from various sources, including a £30m facility provided by the Morton family, existing co-funder networks, existing and new loan notes, and institutional sources like Sancus Group's £125m facility with Pollen Street Capital, subject to specific criteria.

Furthermore, the joint venture aimed to retain and employ all staff currently working at Sancus Lending Jersey and Hawk Group.

The management of existing loan assets would remain the responsibility of Sancus Lending Jersey Limited and Hawk Group, while new business activities would be overseen by the joint venture, ensuring a smooth and seamless transition for clients and stakeholders.

"This joint venture with Hawk gives Sancus the opportunity to partner with a highly respected local family office," said Sancus chief executive officer Rory Mepham.

"We are bringing together the best of our respective businesses and are confident that this will enable the diversification of our funding sources, and variety of products offered to clients to further grow our assets under management.

"We are also very excited by the opportunities that developing a debt advisory business presents and look forward to growing that business in both Jersey and further afield."

Reporting by Josh White for Sharecast.com.

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