Report: Blackstone, TPG to purchase Kensington

Private equity firms The Blackstone Group (NYSE:BX) and TPG Capital are closing in on deal to purchase subprime mortgage lender Kensington, Sky News reports.

Kensington is owned by Investec (OTC:IVTJY), which bought the company for £283M ($473M) in 2007 just as the financial markets began to seize up.

The takeover has not yet been finalized, but insiders say the deal is likely to be announced this week.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs