Private equity funds, the traditional buyers of non-performing debt, expect to acquire the majority of the unpaid loans like they did following the crisis in 2008.
The most active players between 2015 and 2019, the five years with the most activity in this market in Spain, were Blackstone, Cerberus and Lone Star. The three accounted for half of the €142.4 billion in asset purchases that took place during that period, according to research conducted by the consultancy firm Axis Corporate.
