IQ-EQ is proud to have supported the successful completion of the acquisition of Westpac’s RAMS mortgage portfolio, a landmark transaction involving approximately A$15.4 billion in residential mortgages and one of the largest mortgage portfolio transfers in the Australian market.
The portfolio was acquired by a consortium comprising Pepper Money, KKR-managed credit funds and accounts, and PIMCO-managed funds, with Pepper Money servicing the portfolio.
The transaction represents a significant milestone for Australia’s securitisation and consumer lending market, showcasing the increasing scale and sophistication of portfolio acquisitions and structured finance transactions. It also reflects the growing importance of independent service providers in supporting these increasingly sophisticated financing structures.
IQ-EQ acted as trustee, security trustee, back-up servicer and corporate services provider, supporting the governance, security and operational framework underpinning the transaction.
“This landmark transaction highlights the critical role of strong governance, operational resilience and trusted partners in delivering complex transactions at scale,” said Nick Procter, IQ-EQ’s Managing Director, Australia and New Zealand. “We’re proud to have been part of this significant achievement and would like to congratulate Westpac, Pepper Money, KKR, PIMCO and all parties involved on reaching this important milestone.”
