Tuesday, 1 December 2015
Last updated 1 min 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…