Ashurst advises affiliates of Elliott Investment Management on sale of Azzurro Associates 

Global law firm Ashurst has advised affiliates of US investment manager Elliott Investment Management LP (“Elliott”) on the sale of UK debt purchaser Azzurro Associates (“Azzurro”), a specialist in SME Non-Performing Loans, to Hoist Finance. Under the agreement, Hoist Finance is to acquire the UK operations and assets of Azzurro, including its FCA-regulated entity.

Founded in 2017, Azzurro is a highly regarded, specialist debt purchaser and servicer with a client base that includes high street banks and financial institutions. The company has three operational centres in the UK, in Southampton, Northampton and Manchester, with approximately 180 FTEs.

The acquisition is subject to customary conditions as well as regulatory approvals and is expected to be completed during 2026.

The Ashurst team is being led by private equity partners Markjan van Schaardenburgh and Jacob Gold, assisted by senior associate Nick Lever, associates Aoife Fenlon, Jasmine Fox and Patrick Chambers and trainee Oscar Chambers. The wider team comprised banking and finance partner Callum McPherson and associate Hannah Brower, real estate partner Henry Moss and employment partner Ruth Buchanan. The tax team was led by partner Nick Gardner with assistance from associates Aaron Robertson and Laura Bull. Partner Lorraine Johnston and senior associate Hannah Pack advised on financial regulatory matters and partner Katia Fettes and senior associate Timothée Gras assisted on matters of Luxembourg Law.