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CarVal Investors co-invests in Project Pittsburgh with Pepper Group

CarVal Investors, the global alternative investment fund manager, has appointed its equity co-investor in the Irish Project Pittsburgh non-performing loan (NPL) portfolio Pepper Asset Servicing to provide special and master servicing as well as asset management.
By James Wallace
January 15, 2013 | 2:13 P.M.

Pepper will be co-investing 3m, alongside CarVal Investors' 92m, in the NPL to be sold by Lloyds Banking Group, marking the Australian firm’s maiden investment in an Irish CRE NPL, and its second in Ireland following the acquisition of GE Capital’s Irish residential mortgage book in June 2012.  

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