LONDON, Sept 4 (Reuters) - The owner of Global Loan

Agency Services (GLAS) is exploring selling its stake in the

debt administration services firm, three people familiar with

the matter told Reuters, which would be the latest deal in a

sector that is attracting billions of pounds from investors.

U.S. buyout firm Levine Leichtman Capital Partners is

working with advisers at Baird and Deutsche Bank to gauge

interest in the London-headquartered business, said the people,

who spoke on condition of anonymity.

GLAS is expected to generate north of 50 million pounds

($67.55 million) in earnings before interest, taxes,

depreciation, and amortization (EBITDA) this year, the people

said. A sale of Levine's stake could value GLAS at 1 billion

pounds based on valuation multiples in the sector and its growth

rate, two of the people added.

The sources, who requested anonymity because the matter is

confidential, cautioned that the discussions are at an early

stage and that no deal is guaranteed.

Spokespeople for Deutsche Bank and Baird declined to

comment. Levine Leichtman and GLAS did not respond to requests

for comment.

GLAS would mark the latest in a series of deal activity in

the fund administration space following companies such as the

potential sale of Astorg's fund services business IQEQ and

London-listed JTC, which last week rejected two takeover

proposals from British private equity firm Permira.

Cinven last year also acquired a majority stake in the fund

administrator Alter Domus from Permira, in a 4.9 billion euro

($5.74 billion) deal.

Potential buyers for GLAS include private equity firms

attracted by the sector's predictable revenue and income

streams, one of the people said.

Founded in 2011, GLAS provides administration services

specifically for the debt market, covering private credit,

leveraged finance, capital markets and bankruptcy. It has more

than $600 billion of assets under administration daily,

according to its website.

Levine Leichtman acquired a strategic stake in GLAS in 2022

for an undisclosed sum, it said, without disclosing the size of

its stake. GLAS has since expanded in Asia by acquiring

Singaporean fund services firms Watiga in 2024 and Serica Trust

& Agency in January both for undisclosed sums.

($1 = 0.7402 pounds)

($1 = 0.8542 euros)