The group will trade under the Pepper UK brand and will retain Engage Credit as a trading name in connection with its mortgage administration activities.
Its key people and services offering will all continue from its bases in London, Madrid and Skipton along with operational sites in Australia and South Korea. Pepper said its total global assets under management now exceed £9 billion.
Richard Klemmer will become the CEO of Pepper UK and co-group head of credit, based in London.
“Being part of the Pepper Group can only enhance what is already a highly successful business model,” he said.
“Pepper has brought significantly more capital to fund diversification and expansion, plus a worldwide network of operations with a breadth of expertise in managing different asset classes and scales of portfolios. This track record will be invaluable when we are dealing with world-class counterparties.”