Ashurst advises management team Kensington Mortgages on sale to Barclays

Global law firm Ashurst advised the management team of Kensington Mortgages (“Kensington”) led by CEO, Mark Arnold, and General Counsel Richard Cull in connection with the disposal of Kensington Mortgage Company Limited and related assets to Barclays UK PLC (‘Barclays’) by funds managed by or affiliated with Blackstone Tactical Opportunities (‘Blackstone’) and Sixth Street Partners. 

As set out in Barclays’ announcement, which can be found here, the total consideration for the transaction is expected to be approximately £2.3 billion.

Kensington is a market leader in specialist lending to the self-employed, first-time buyers, older borrowers and customers with multiple sources of income.

The team advising the management team was led by partner David Carter and partner Braeden Donnelly assisted by corporate associates Kiara de Silva, Ria Shah and trainee Arjun Kiri together with Tax Partner Nicholas Gardner and associate Aaron Robertson.

/Public Release.