ATLANTA — Global Lending Services LLC, an Atlanta-based auto finance company founded earlier this year by auto industry veteran Douglas Duncan, has acquired the business of Resurgent Auto Finance, an established subprime auto loan originator. The acquisition includes a $38 million loan portfolio, funding and servicing platform.

"This is a very important milestone for Global Lending Services," said Duncan. "By making this acquisition, we now have a platform in place that will enable us to create a scalable subprime auto finance business and execute our plan to establish a national presence in the market. Resurgent Auto Finance is an exceptional company. It has state-of-the-art technology and analytics, very disciplined processes, and many talented people," added Duncan.

Global Lending Services also announced it has entered into a partnership with New York-based investment firm, BlueMountain Capital Management. Several BlueMountain managed funds and Duncan will collectively invest $100 million in capital. BlueMountain will have a majority interest in the company, and Duncan will serve as chairman.

"The opportunity to partner with BlueMountain was strategic given the significant amount of capital required in the auto finance business," stated Duncan.

In a related matter, Global Lending Services secured a senior debt facility with UBS Real Estate Securities Inc. for $75 million. "The UBS facility provides the foundation for our debt program, which will scale as we grow our loan portfolio," stated Mark McCall, Global Lending Services CFO. "The UBS team established a facility that meets our specific needs, and we are very excited to partner with them as we build the business.”