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Northern Rock mortgages are latest gamble for US private equity firm Cerberus

by theguardian.com posted 2years ago 8257 views
Cerberus, which paid £13bn for UK government’s loans portfolio, is betting on recovery in European property marketsCerberus Capital Management, the US private equity 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, National Australia Bank, Ireland’s National Asset Management Agency (Nama) and Lloyds Bank, betting on a recovery in European property markets. Continue reading...