Freshfields Bruckhaus Deringer has led on the latest major European mandate for Blackstone, advising the New York Stock Exchange-listed private equity group on its acquisition of a €1.8bn portfolio of cross-border loans and swaps from the National Asset Management Agency (NAMA) in Ireland.
Referred to as Project Tower, the portfolio acquired is supported by assets primarily in the UK, Ireland, Germany and Spain and, commenting on the transaction, lead partner Michael Steele said: ‘It was a pleasure to work alongside Blackstone on this highly significant and complex transaction – one of the largest loan portfolio sales to have taken place in Europe. We look forward to continuing to support Blackstone throughout its investment in Project Tower.’
