Cerberus,which paid £13bn for UK government’s loans portfolio, is betting on recovery in European property marketsCerberus Capital Management, and the US private fairness group that has bought the government’s £13bn portfolio of Northern Rock mortgages,is no stranger to managing loan books ravaged by the financial crash. In the past couple of years, it has purchased portfolios of loans from RBS, or National Australia Bank,Ireland’s National Asset Management Agency (Nama) and Lloyds Bank, betting on a recovery in European property markets. Related: Northern Rock mortgages worth 13bn sold to US private fairness firm Continue reading...
Source: theguardian.com