GI pulls off mission to land Dutch housing loan portfolio

Private equity firm GI Partners has bought a €214m performing loan book backed by housing in the Netherlands.

The deal follows Apollo’s purchase of a portfolio of distressed residential loans from Merrill Lynch last year. GI Partners injected most of the equity via a joint venture with Dutch asset manager Principal Company. Natixis structured a €103.8m RMBS loan.

The real estate opportunity fund, which targets 20-25% gross internal rates of return, secured the portfolio “at an attractive purchase price” and is seeking other deals arising from global financial institutions’ retreat from non-core businesses.