US fund Oaktree understood to have been shortlisted to buy problem loans from Nama
US fund Oaktree is understood to have been shortlisted to buy a mass of problem loans from Nama.
The fund is understood to have moved ahead of Lone Star in bidding for the so called Project Ruby and Project Emerald portfolios of loans with a face value of €4.7bn. Market expectation is that for the loans to sell for as little as €800m.
The portfolio will be among Nama's last large scale sales and is made up of a mass of mainly smaller property loans dating back to the boom.