Concept

Bluestone Group

Résumé

Bluestone Group is a financial services and technology business with offices in the UK and Ireland. Bluestone Group was established in 2000 in Australia as a specialist residential mortgage lender. The business was founded by Alistair Jeffery, an investment banker who had worked at Goldman Sachs and Nomura Securities in London during the 1990s. The first loan was settled in December 2000, and in the following year, a modest A

50m residential loans were written. Bluestone's first office was in Sydney's Chifley Tower. In 2001 the business moved to Clarence Street before relocating to its Sydney office to Kent Street and then to 101 Sussex Street. The business funded its early expansion with a series of private equity rounds. The first round of A

1.8m was completed in June 2000. The subscribers were primarily private investors. A further A

4m was raised in September 2001 from RMB Ventures, the Australian venture capital arm of First National Bank (South Africa). Crescent Capital and the Liberman Family invested further expansion funds in 2002, and ABN AMRO invested A

5m in 2005. Bluestone's start-up funding was provided via a A

250m warehouse line provided by Nomura International, part of the Nomura Group. Nomura exited its funding line in 2003 by syndicating its warehouse line to Barclays. Between 2002 and 2006, Bluestone grew strongly. The business wrote around

100m new loans in 2002, and closed its first securitisation, Sapphire I, in May 2002. Loan volumes doubled year-on-year for the following few years, with the business winning the BRW Fast 100 for the fastest-growing private company in 2004. Bluestone's revenue growth for the prior three years was an extraordinary 800%, a Fast 100 record. The following year, Bluestone was again featured in the top 10 of the Fast 100, with turnover of A$56m and an annual average growth rate of 178%. In 2002, Bluestone established residential lending operations in New Zealand, and in 2004, the business started work on a reverse mortgage unit, specialising in lending to retirees, many of whom are 'asset-rich, cash-poor'.

Source officielle

https://en.wikipedia.org/wiki/Bluestone_Group

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