Bain Capital €1.14 billion acquisition of Spanish loan and real estate portfolios

Overview:

• Bain Capital has acquired two loan portfolios and a portfolio of repossessed real estate assets from three Spanish banks for an aggregated value of €1.14 billion. 
• The firm acquired a €415 million loan portfolio from Banco Sabadell, a €515 million loan portfolio from Grupo Cooperativo Cajamar (Cajamar), and a real estate portfolio worth €220 million from Bankia.
• On completion Bain Capital will have a total of six loan and real estate portfolios in Spain, and the move shows that there is renewed faith in the Spanish real estate market, following the crash in 2008.
• Garrigues acted for Bain Capital as local legal advisers on the acquisition from Cajamar, Cuatrecasas acted for Bain Capital on the acquisitions from Banco Sabadell and Bankia. 

John Crabb - Journalist