Aldermore acquires portfolio

Aldermore has completed the purchase a portfolio of leasing receivables from Private & Commercial Finance Group (PCFG).

The deal is for leases with a book value of £11.5 million and the portfolio is predominantly vehicular assets and is a good spread of SME customer risks.

This is Aldermore’s second purchase of a leasing portfolio, following the acquisition of £35 million of assets from Heritable Asset Finance in March 2010.

George Ashworth, managing director of Asset Finance at Aldermore, said: “We’re delighted to have concluded this deal