The portfolio includes nearly 12,000 borrowers and consists of secured and unsecured medium and long term loans.
Earlier this year, another private equity firm, KKR, is currently in advanced talks with Italian banks Intesa Sanpaolo andUniCredit to pool their problematic loans.
In February this year UniCredit sold a €700m portfolio of non-performing loans to private equity firm Anacap Financial Partners.
The deal came only a few weeks after Anacap bought a €551m portfolio of performing salary secured loans from Gruppo Monte dei Paschi di Siena in Italy.
In the meantime, Fortress is currently considering a $4.7bn bid for a Manhattan apartment complex.
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