HomeEnglishKKR Buys Caix...

KKR Buys Caixabank’s Bad Mortgage Portfolio for 200 Million Euros

The nominal value of the loans acquired by KKR stands at €580 million, sold at a discount of around 65%.


CaixaBank is cleaning up its balance sheet. The American investment fund and private equity manager KKR has acquired a portfolio of non-performing mortgages from the financial institution for 200 million euros.

According to El Confidencial, these loans have a nominal value of €580 million, so the discount on the transaction is 65%. KPMG advised on the deal.

KKR is thus providing its servicer Hipoges more loans to work with, which will likely offer a good return, given the discount. Taking on this type of portfolio is a sign to Sareb that it can manage large portfolios. Hipoges Iberia is in contention with the traditional servicers for a huge contract with the bad bank.

At the beginning of the year, the US asset manager also bought the Dakar portfolio from BBVA, with a gross value of approximately 700 million euros. This package included the real estate assets of the rescued financial institution Unnim.

Read the full article in Spanish


Últimas Noticias

Paid RRSS FotocasaPro academia formacion 24 generica