• Transaction / Assets
  • Seller
  • Buyer
  • € MM

David E. Shaw Acquires a NPL Servicing Platform in Spain From GFKL

15/07/2014 – Expansión 

Spain continues to glow on investment maps as today´s hottest market in the world. David E. Shaw, one of the leading opportunistic funds of the United States, has bought a non-performing loans servicer in the country, togther with its 400 experts, from German GFKL.

The fund´s owner David E. Shaw is an ex- Morgan Stanley advisor serving which his scientifical and technological knowledge about investment to Bill Clinton and Barack Obama. His fund disposes of €23.48 billion in managed assets and employs around 1.000 specialists.

With this purchase of Multigestión Iberia, D. E. Shaw seeks growing in Spain where he has bought many defaulting portfolios over the past years. Own platform will allow him to focus on the real estate-backed loans.

The transaction is similar to the one conducted by Elliot that acquired Gesif last year. Also, it takes place in a very fortunate moment as the Spanish banks eagerly shed their NPLs.

Multigestión is one of the principal firms in the sector, just behind Norwegian Lindorff, Centerbridge´s Aktua and German EOS. Its main rivals will be Gesif, Savia Asset Management, Gescobro, Aktiv Kapital and Hipoges.

Founded in 1992, Multigestión administers €15 billion in default.


Original article: Expansión (by Jorge Zuloaga)

Translation: AURA REE