A pair of investment giants, who have previously jointly acquired a minority stake in the Co-operative Bank, have entered the race to buy a large stake in one of Britain's biggest independent mortgage lenders, according to reports.
Bain Capital and JC Flowers have hired bankers at Morgan Stanley to work on a bid to invest in Cheshire-headquartered Together Financial Services, Sky News has said.
The move comes as a bid is also being put together by a separate consortium comprising Centerbridge Partners and Bayview Asset Management, a US-based investor in mortgages and consumer credit.
