Alternative asset manager Balbec Capital Management has bought a portfolio worth over €4 billion ($4.4 billion) of soured Portuguese loans from Luxembourg-based LX Partners, according to a statement seen by Bloomberg News. The portfolio has more than 300,000 restructured and non-performing loans, and its purchase is one of the largest such loan transactions in recent years, Balbec said. It’s one of the biggest portfolio purchases of non-performing loans for the firm since it was founded in 2010.
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