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Eurocastle, Fortress affiliates close stake buy in €17.7B loan portfolio

Eurocastle Investment Ltd. closed the FINO NPL portfolio transaction along with affiliates of Fortress Investment Group LLC.

Eurocastle and Fortress affiliates bought a 50.1% interest on the substantial majority of the €17.7 billion NPL portfolio, while UniCredit SpA holds the remaining 49.9% stake.

Eurocastle made a €44 million equity investment, including closing costs, for the deal.

The FINO portfolio was previously serviced by doBank on behalf of UniCredit. DoBank will continue to service the portfolio.