AnaCap Financial Partners and Arrow Global have invested in a β¬127m portfolio of Dutch residential and commercial real estate mortgages.
The private equity firm joined UK-based Arrow Global, a manager of debt portfolios, in the deal β its first in the Netherlands.
GE Artesia sold the portfolio to vehicles owned by AnaCapβs Credit Opportunities III fund.
AnaCap said the portfolio was a βgranular mix of seasoned loans, mainly in residential mortgagesβ.
Sean Dawson, managing director at AnaCap Financial Partners, said the deal was an opportunity to acquire a βhigh-quality, seasoned and primarily residential mortgage loan portfolio in the Netherlands, delivering robust and stable cash flowβ.
He added: βThe portfolio will deliver attractive risk-adjusted returns in a stable jurisdiction that nevertheless has an exceptionally high level of household debt outstanding.β
The deal follows the of two Italian NPL portfolios with a face value of more than β¬2bn from SPVs backed by GE Capital Real Estate and The Royal Bank of Scotland.
Quion will be retained as servicer for most of the portfolio, with Vesting engaged on the remainder.
