Venn Partners is seeking to refinance a €500m portfolio of Dutch residential mortgages it bought from GE Capital’s Artesia Bank through the Dutch RMBS market. The company aims to sell down the performing loans as bonds to European banks, insurers and credit funds in an RMBS transaction called Cartesian.
It will replicate this model to fund new originations and buy secondary portfolios in the Dutch residential market. Venn’s broader, asset-based lending strategy involves commercial real estate financing, particularly in the UK, Germany and Scandinavia. It has originated about €300m of loans since Paul House joined from Citi last January. Late last year the company closed its first renewable energy loan, secured against a solar power facility.