US fund manager Carval Investors is acquiring a Dutch real estate lender which has a €1.7 bn portfolio of mortages for commercial property and housing.
Carval and Vesting Finance, the Dutch subsidiary of the London-listed Arrow Global Group, signed an agreement on Monday to acquire RNHB Hypotheekbank, its loan portfolio and its 60 employees.
Part of the FGH real estate lending arm of the Dutch Rabobank group, RNHB Hypotheekbank provides loans for small-scale commercial real estate properties around the Netherlands and for homes intended for rent or resale. The portfolio volume of €1.7 bn is spread across 9,000 loans. FGH is more focused on large sale commercial real estate assets and projects.
The Carval-Vesting consortium intends to expand the RNHB's penetration in the market.
Carval Investors is a major player in alternative investing, with a focus on 'credit-intensive' activities. The firm has $10 bn of assets under management. Vesting Finance provides credit management and financial services for debt portfolios. It currently manages some €3.7 bn.
