Varde Partners made an equity investment in Bank Masthaven, for £60 million.

Varde Partners, global alternative investment firm, has agreed to invest in Bank Masthaven, UK - based retail bank. Varde Partners is going to make a strategic £60 million equity investment in Masthaven. “In Värde Partners we have chosen our strategic partner for the next phase of the continued journey of Masthaven bank. Our original investors remain committed to the bank – what Värde Partners brings to the table is the commitment, experience and firepower to take us to the next level.’ Masthaven has made tremendous strides in the past few years and, since our launch of the bank two years ago, we have successfully launched specialist residential and buy-to-let mortgages plus bolstered our savings suite by entering the SME savings market, all while growing our team to above 170 people and generating over £0.5bn of deposits. Now it’s time for us to further enhance our propositions for both our existing customers and intermediary partners as well as our future clients. Masthaven will use the investment to bring more capacity to the UK market and enable us to innovate in terms of both our savings and lending propositions. We believe a company is only as good as the people it hires. As such, it was incredibly important for us to respect our employees’ share ownership and select a partner who has the same core values.” Andrew Bloom, Masthaven’s founder and Chief Executive Officer