Lloyds trades €380m Project Pittsburgh to CarVal Investors

Lloyds Banking Group is to sell the circa €380m Project Pittsburgh non-performing loan (NPL) portfolio to CarVal Investors, with the larger €1.8bn Project Lane expected to trade with Apollo Global Management, CoStar News understands. The two Irish sub-portfolios together comprise … Continue reading →

Lloyds lines up four-strong €2.2bn Project Pittlane NPL shortlist

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Lloyds Banking Group has selected two consortia and two standalone individual private equity bids to contest the giant €2.2bn two-part Irish Project Pittlane commercial loan portfolio. Kennedy Wilson, Deutsche Bank, Och-Ziff and Varde Partners comprise the first of the two … Continue reading →

Lloyds assembles €2bn Project Pittlane Irish loan portfolio

Lloyds Banking Group has launched the €2bn Project Pittlane heavily-defaulted Irish loan portfolio, as the bank steps up efforts to deleverage its most deeply distressed real estate loan exposure. Project Pittlane is comprised of more than 700 individual loans, lent … Continue reading →