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Cerberus grabs U.K. loan portfolio for $19.8B

Nov 15, 2015 - The Deal Pipeline

Financial investor Cerberus Capital Management LP on Friday burnished its reputation as one of Europe's most avid buyers of banking loan portfolios with a record-breaking £13 billion ($19.8 billion) deal for a package made up of largely of  performing mortgage debt including the granite securitization portfolio established by the former Northern Rock plc. The seller is UK Asset Resolution Ltd., the entity established to manage and sell off the riskier assets acquired by the British gove...