Company Name: Wizard Home Loans
Sector: Financial Services
Company Website: www.afig.com.au
Date Invested: May 2001
Date Exited: November 2004
Exit Mechanism: Trade sale to GE

The original investment was in the Wizard Home Loans business. With the support of the funding provided by our clients, the business successfully transformed itself into the Australian Financial Investments Group (AFIG). The transformation saw the investment change from an interest in an effective single business line into a multifaceted and vertically integrated group. AFIG comprised the following three businesses:

• Wizard Mortgage Corporation (Wizard);
• Mortgage Asset Management (MAM); and
• Australian Mortgage Securities (AMS).   

In joining the three businesses AFIG was positioned as a market leader across all points of the mortgage process: funding, distribution, processing and servicing. The end-to-end control ensured AFIG was well positioned in the highly competitive Australian mortgage market.

AFIG was sold to GE in November 2004.