FINANCE: Nama has confirmed the appointment of Cushman & Wakefield as adviser on its mega portfolio sale, Project Arrow.
The portfolio of more than €8bn in small loans is expected to be sold by the end of year, helping the Irish bad bank to close its books ahead of schedule.
Analysts expect Cerberus to be in the front line of those bidding for the largest Irish portfolio since Project Eagle in 2014, with Lonestar and PIMCO contenders.
Cerberus was the winner of the Project Eagle sale and the size and complexity of the Arrow portfolio looks to favour the firm once again, analysts said.
With $17bn of loan portfolio investments in 2014, Cerberus has been the largest buyer of NPLs globally.
