Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Castle Trust Bank Acquired by Sixth Street and Bayview

Castle Trust Bank has been acquired by vehicles backed by Sixth Street, a global investment firm, and affiliates of Bayview Asset Management, a global alternative investment management firm. The two firms are acting as equal partners in the acquisition.

According to the report, Sixth Street and Bayview state that they bring significant financial strength, expertise in credit markets and asset-based finance, and a long-term investment approach to support financial institutions during growth and transformation.

Castle Trust Bank will continue to be led by its current management team, including Chief Executive Officer Martin Bischoff. The bank has grown customer savings balances to more than £1.6 billion, built a specialist property finance loan book of more than £1.1 billion, and a retail finance loan book exceeding £200 million.

Castle Trust was launched in 2012, offering investment products and specialist mortgage finance. The new ownership is expected to support the bank’s continued focus on retail savings, specialist property, and retail finance.

This development may be of interest to UK letting agents and inventory clerks who work with property finance providers and monitor changes in the specialist mortgage sector.