Pepper Group prepares for $1bn IPO

By Your Mortgage
Non-bank lender Pepper Group is preparing for its potential $1bn initial public offering (IPO), and has picked Goldman Sachs and Macquarie as advisers.
 
The IPO has been slated for the second half of 2015, reports The Australian Business Review.
 
Pepper Group, run by Mike Culhane and Patrick Tuttle, aims to gain more access to capital through the IPO. It already has about $28.6bn of loan and lease assets internationally today.
 
Pepper’s annual revenue has jumped from $74m in 2009 to $329.9m in 2013. The company’s net profit has also almost ­doubled in that time to $28.8m.