…and sees potential for more investments in the country, particularly in real estate and poor credit.
The loan portfolio purchased by Bain Capital is made up “mostly of bilateral real estate loans guaranteed by small and medium-sized companies and some large companies,” the fund said in a statement sent to newsrooms. “Collateral collateral for these loans includes a wide range of assets, including ongoing and completed residential real estate development projects and parcels of land,” the statement said.
This is the first acquisition of the US fund in Portuguese banking and expansion in the country is in the plans. “We see potential for more investments in Portugal, particularly in real estate and bad credit,” says Fabio Longo, administrator of Bain Capital Credit, quoted in a statement. Alon Avner, head of Bain Capital Credit for Europe, says the fund believes that “this is the right time to expand to Portugal for the purpose of new business in the future.”
