Finance
Perella, Innovatus Explore Sale of Auto Lender Flagship Credit
Flagship Credit helps non-prime auto shoppers obtain financing.
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The owners of Flagship Credit Acceptance LLC are exploring a sale of the auto-finance provider, according to people with knowledge of the matter.
Flagship Credit is held by funds affiliated with Perella Weinberg Partners Capital Management LP that are sub-advised by Innovatus Capital Partners, a firm formed by former Perella executives. They are working with an adviser to solicit interest in the company, which could fetch around $400 million in any deal, said the people, who requested anonymity to discuss confidential information. No final decisions have been made and a transaction may not materialize.