Thursday, 25 December 2014
Last updated 17 hours ago
May 13 2010 | 12:28pm ET
A pair of private equity firms is set to do battle for a major servicer of delinquent mortgages.
Both Apollo Global Management and Centerbridge Capital Partners are bidding for CW Financial Services. The New York-based company’s CWCapital Asset Management is the second-largest manager of delinquent U.S. commercial real-estate loans, with more than $18 million in delinquent loans.
All told, CWCapital services $143 billion in securitized real-estate loans.
The company, currently majority-owned by a unit of Canada’s largest public pension plan, the Caisse de dépôt et placement du Québec, is expected to get more than $200 million at auction, Bloomberg News reports.
Apollo and Centerbridge may also be joined by a Berkshire Hathaway and Leucadia National Corp. joint venture, Berkadia Commercial Mortgage, which bought Capmark Financial Group’s loan-servicing and mortgage business in December.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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