Hayfin lands €70m performing loan portfolio from Sareb

UK investment firm Hayfin Capital Management has bought €70m of performing loans from Spanish bad bank Sareb.

The loans were part of a debt portfolio tied to medium-sized companies, called ‘Klauss’. Hayfin was set up in 2009 by ex-directors of Goldman Sachs Richard Hayden and Tim Flynn.

The London-headquartered group, with two staff in Madrid, closed a Special Opportunities Credit fund last year at €1.35bn. Part of the vehicle’s strategy is to buy secondary loans.

Other Sareb Q1 deals include the sale of the €42m face value ‘Dorian’ residential portfolio to Blackstone; and the €100m ‘Crossover’ property portfolio, sold to Castlelake.

State-owned Catalunya Banc is selling a three-tranche Spanish residential loans portfolio, with a €6.9bn outstanding balance, called Project Hercules.

 

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