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.