US hedge fund Davidson Kempner Capital Management LP has purchased approximately $1.4bn in non-performing loans from Abu Dhabi Commercial Bank PJSC, its second major distressed debt transaction with the lender, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as revealing that the portfolio includes a mix of secured and unsecured assets. ADCB and Davidson Kempner declined to comment on the transaction.
This deal follows a landmark $1.1bn non-performing loan sale from ADCB to Davidson Kempner two years ago and forms part of the bank’s ongoing efforts to clean up its balance sheet, which has been affected by several high-profile corporate defaults, including NMC Health Plc.
$2bn tech-focused hedge fund SoMa Equity Partners to shutter
San Francisco-based hedge fund SoMa Equity Partners is winding down after returning capital to investors, bringing the curtain down on a…
More
Arcana hires former Goldman Sachs exec to Lead EMEA expansion
Portfolio intelligence provider Arcana has appointed former Goldman Sachs executive Rhys Williams as head of EMEA, as the technology firm…
More
ExodusPoint adds Pictet trader to London equities team
Multi-strategy hedge fund major ExodusPoint Capital Management has strengthened its London equities operation with the appointment of Jade…
More
