AnaCap Financial Partners and Arrow Global have invested in a €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 – its first in the Netherlands.
GE Artesia sold the portfolio to vehicles owned by AnaCap’s Credit Opportunities III fund.
AnaCap said the portfolio was a “granular mix of seasoned loans, mainly in residential mortgages”.
Sean Dawson, managing director at AnaCap Financial Partners, said the deal was an opportunity to acquire a “high-quality, seasoned and primarily residential mortgage loan portfolio in the Netherlands, delivering robust and stable cash flow”.
He added: “The portfolio will deliver attractive risk-adjusted returns in a stable jurisdiction that nevertheless has an exceptionally high level of household debt outstanding.”
The deal follows the recent acquisition of two Italian NPL portfolios with a face value of more than €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.