Private equity firms bid for Sareb’s non-performing loan portfolio


spain_flag2_170sqSpanish bank Sareb has reportedly received 30 offers for its 300m portfolio of non-performing residential mortgages.

Private equity firms Lone Star, Apollo, Cerberus, Centerbridge and Fortress have made offers for the portfolio, in another sign that the economic recovery in the euro zone is going well, said the FT, citing people with knowledge of the matter.

Sareb expects to complete the sale before the end of the year, said the sources.

“There’s an awful lot of interest in Spain at the moment,” a loan portfolio adviser told the publication.

In August this year H.I.G. Capital‘s credit affiliate Bayside Capital acquired a pool of distressed Spanish real- state assets worth €100m from Sareb.

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