Private equity consortium adds more lenders for £5.4bn Hargreaves Landsdown deal

The private equity consortium set to take over Hargreaves Lansdown has added more lenders to the group financing the £5.4bn takeover deal.

Buyout giant CVC, alongside Nordic Capital and Platinum Ivy, a subsidiary of the Abu Dhabi Investment Authority, said that it had added four new lenders to fund the cash offer for the Bristol headquartered investment platform.

The lenders are Korea Investment, KDB Asia, Sona Asset Management, and Canadian pension giant The Public Sector Pension Board.

Last week, the private equity consortium also said it had added Oaktree Capital Management, Pinestreet Asset Management, Albacore Capital, LGT Capital Partners, Stepstones Group, the Novo Nordisk Foundation, HSBC, and Japanese banks Mizuho and MUFG to the list of lenders.

The deal was approved by the Hargreaves Lansdown board on August 9.

It had previously rejected three bids for a takeover from the group.

The original lenders for the deal, announced before the takeover was approved by the board were HPS Investment Partners, KKR Credit Advisors, Apollo Global Management and Blackstone Credit.

Hargreaves Lansdown’s board also said that shareholders will be asked to vote through the deal on October 14.