RLPC-Volksbank Romania sells 495 mln euro loan portfolio

LONDON, July 28 Mon Jul 28, 2014 7:53am EDT

LONDON, July 28 (Reuters) - Private equity firm AnaCap Financial Partners, HIG and Deutsche Bank have jointly acquired a 495 million euro Romanian loan portfolio from Volksbank Romania, it was announced on Monday.

The sale of the 3,566 non-performing and sub-performing loans comes as European financial institutions continue to restructure and divest assets in order to clean up balance sheets and comply with new capital requirements.

The portfolio -- which consists of mainly residential, commercial real estate and development land loans -- is the largest portfolio sale of its kind in Romania to date, according to the announcement.

APS Romania will act as Master Servicer of the portfolio.

At the end of last year, AnaCap acquired 700 million euros of non-performing loans from Italy's UniCredit as part of the bank's efforts to sell off bad debt and clean up its balance sheet.

AnaCap specialises in the financial services sector. Its credit funds invest in European portfolios of consumer and SME assets including loans, leases and securities. (Editing by Christopher Mangham)