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Flagship Credit Sold Amidst Auto Loan Concerns
22 Nov
Summary
- Flagship Credit agreed to sell its business operations to InterVest Capital Partners.
- The deal occurs as industry headwinds raise concerns over auto loan quality.
- Flagship Credit is owned by funds sub-advised by Innovatus Capital Partners.
Subprime auto lender Flagship Credit Acceptance has entered into an agreement to sell its business operations and assets to InterVest Capital Partners. This strategic acquisition by the specialty finance firm marks a notable development in the current financial landscape.
The deal unfolds against a backdrop of growing apprehension within the industry regarding the overall quality of auto loans. These prevailing headwinds appear to be a significant factor influencing such transactions.
Flagship Credit Acceptance is presently owned by funds associated with Perella Weinberg Partners Capital Management, with sub-advising services provided by Innovatus Capital Partners. This sale represents a transition for the company amidst evolving market conditions.
