LNR and Capita target European debt advice work

LNR Partners and Capita plan to expand beyond servicing and asset management in Europe, to work with banks and debt investors.

LNR, which owns loan servicer Hatfield Philips, has won its first mandate of this nature in Europe, to jointly advise Hatfield Philips on the Four Seasons care home CMBS restructuring, with Brookland Partners.

Last September the US group recruited Derek Rich, who spent eight years in the European markets at Deutsche Bank and UBS, as director of business development and investment management in Europe.

In the US, the firm is the biggest commercial real estate debt special servicer and also buys and runs loan portfolios from banks and others that want to cut their real estate exposure.

Similarly, Capita Asset Services, one of Europe’s largest  CMBS loan servicers, has taken on Peter Walker from BTG Restructuring as London-based head of business development.

He will seek new mandates, of which Capita is understood to have been successful on two counts lately, and is particularly looking to work with investors that want to buy loan portfolios Before joining BTG, a division of corporate recovery firm Begbies Traynor, Walker worked at Ron Roark’s Crown Northcorp as well as for Crown Mortgage Management.

Capita has also hired Martin Barnwell to add to its senior primary servicing team. Jim O’Leary remains head  of primary servicing at Capita, while Andy Wilcox remains head of special servicing. Robbie Hughes, based in Ireland, oversees the business.