That is correct @tinhat / Robert. Brook Adcock invested in what was DirectMoney towards the end or shortly following the GFC, when the firm was morphing from a Peer to Peer player to what they called a 'Marketplace Lender'. He, and his Adcock Private Equity (APE) team, has kept the running of the firm close to their chest once they dumped their first post-listing CEO, with the Nantes brothers the most visible. One of the very early investors in DirectMoney - Trevor Folsom - is also part of the APE stable, via Investible (https://investible.com/who-we-are/), so their investment, and commitment, to the firm remains solid. I certainly don't believe that a reduction of their shareholding for a little over $2.5m to its current ~$50m should concern any LTH.
WZR Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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