Simon Embley has been appointed chief executive of Pivotal Growth and will step down from his role as non-executive chair of the LSL board on 28 April 2021.
LSL has revealed a joint venture with Pollen Street Capital (PSC) to launch Pivotal Growth, a national mortgage broker.
At least £200m will be made available by way of equity and debt to fund acquisitions; LSL has committed up to £33.5m and PSC up to £62.4m to support the acquisitions to be made by Pivotal Growth.
The investment by LSL and PSC will be supplemented with external debt finance in Pivotal Growth, with a view to an exit event over a three to six year period.
LSL and private equity investor form new broker
By Gary Adams 23
rd April 2021 10:08 am
LSL Property Services has partnered with private equity investor Pollen Street Capital to create a new mortgage and protection broker, named Pivotal Growth Limited.
LSL chairman Simon Embley has been appointed chief executive and deputy chair and senior independent director Bill Shannon will become chair of the LSL board and the nominations committee.
Meanwhile, LSL chief executive officer David Stewart and PSC partner Ian Gascoigne have been named Pivotal Growth directors while LSL director of mortgage services David Copland will take on the strategy and business development director role.