Wall Street investor for New Century Care

Further US finance is flowing into the care sector after Wall Street investment firm Anchorage Capital Group took a majority stake in New Century Care (NCC). The New York-based firm will be a cornerstone investor in the operator after reportedly acquiring around £80m of debt from Lloyds Banking Group. NCC’s founder and group managing director Paul Warren will retain a sizable minority stake in the business but the deal will herald a review of how to best improve its estate of 27 care homes.