Apollo, Blackstone Among Potential Bidders For Canada’s Home Capital

5/2/17

Buyout firms Apollo Global Management LLC (APO.N), Blackstone Group LP (BX.N) and Centerbridge Partners LP are among potential suitors studying bids for Canada’s biggest alternative mortgage lender, Home Capital Group Inc (HCG.TO), which sought emergency funding last week, people familiar with the matter told Reuters.

Brookfield Asset Management (BAMa.TO) and Fairfax Financial Holdings Ltd (FFH.TO) are among the other firms interested in buying Home Capital, the people said, speaking on condition of anonymity as the discussions are private.

Home Capital said last week it had hired RBC Capital Markets and BMO Capital Markets “to advise on further financing and strategic options” and after securing a high-interest C$2 billion credit line.

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