LCM Partners buys Spanish NPL portfolio worth €300m
Alternatives investment manager LCM Partners announced on wednesday that it has acquired a portfolio of secured, non-performing SME loans from Grupo Cooperativo Cajamar in Spain. The portfolio comprises approximately 1,200 loans, predominantly secured against granular residential real estate assets on the East and South coast of Spain.
Adrian Cloake, Chief Investment Officer of LCM Partners said: “Through our LCM funds we have deployed increasing amounts of capital into buying secured and SME loans in recent years and our Link servicing business in Spain doubled the size of its platform in 2017 so we are delighted to have acquired such a high-quality mortgage portfolio which plays to our strengths.” LCM have been active in the Spanish non-performing loan market since 2004. Newswire