Investec Asset Finance plc, a provider of equipment financing, has revealed an enhanced portfolio management with the initiation of an Outsource Servicing Agreement (OSA) with Walbrook Asset Finance Limited, an arm of the Bank of London and The Middle East (BLME).

The agreement sets the stage for a comprehensive migration and management of the Walbrook portfolio that claims over 5,000 agreements and a capital value surpassing £300 million.

According to a statement by the company, the collaborative efforts of dedicated teams from Walbrook and Investec have been instrumental in shaping the operational framework of the terms of the OSA.

The OSA with Walbrook aligns with Investec’s strategic vision of expanding its footprint in financial services, the press release said. 

Andy Hart, Head of Private Companies Group, Investec Bank plc said: “We’re delighted to have entered into an OSA with Walbrook and migrated across the portfolio. As funders consider how they may organise their operations to become more efficient or choose to exit their existing portfolios outside of a traditional sale, we believe that other opportunities will present themselves in the market. I’d like to thank all parties involved in completing this project, including our partners Netsol Technologies Europe Ltd (Netsol) for their hard work and perseverance in getting the deal across the line and for their professionalism throughout the process. By entering into this long term OSA, we reaffirm our commitment as a business to the asset finance market and all our partners.”

Andrew Ball, CEO of BLME, said: “This was an important strategic decision for BLME, which will help us manage the typical risks which can occur during this type of wind down. Investec owns and manages a significant portfolio of asset finance contracts in excess of £2.5 billion and so they were the logical choice to undertake the management of the Walbrook portfolio. This decision allows BLME to focus on its key business areas including Real Estate Finance, Private Wealth Management and the growth of our digital bank, Nomo.”

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