Lender owned by feared investor Elliott appoints ex Close Brothers chief as chair
A specialist property lender owned by feared investment firm Elliott has snagged former Close Brothers chief executive Preben Prebensen as its chair, the firm announced today.
Enra Specialist Finance, which offers property finance and specialist lending, was snapped up by Elliott for a reported £350m in March last year and has now appointed Prebensen to oversee the firm as it targets a period of bumper growth.
Prebensen led Close Brothers between 2009 and 2020 and tripled the size of its specialist lending business while building out its wealth management and equity trading operations.
In a statement today, he said he would throw his weight behind chief Danny Waters as the pair look to turn the firm into a major player in the non-bank lending sector.
“I’m joining Enra at an exciting time as the business continues to grow and establish itself as the UK’s leading non-bank specialist lender,” he said.
“My role will be to advise and support Danny and the team who have done a great job establishing Enra and I very much look forward to working with them, and with Elliott Advisors who bring deep expertise and resources as owners.”
Elliott is best known for its fearsome activist campaigns against top firms to force through changes in strategy. The company has waged campaigns against firms in the UK including GlaxoSmithKline, Taylor Wimpey and SSE, and owns high-street bookseller Waterstones.
Enra chief Danny Waters said today the Prebensen would help boost the expertise of alongside the investment firm.
“Preben brings unrivalled experience as well as a real passion and enthusiasm to help us achieve our ambitions as we continue to build the UK’s leading non-bank specialist lender,” he said.
“We have never been stronger or better placed, and with Preben and Elliott on board I’m sure we will go on to even greater success.”
Enra provides a range of financing products to homeowners in the UK and operates a lending business, West One, which originates around £1.5bn of loans per year. It also operates, Aria Finance, a specialist mortgage firm.