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Cerberus buys £13bn Northern Rock NPL

Cerberus Capital Management has acquired the £13bn Northern Rock non-performing loan portfolio from the government, cementing its position as the largest NPL winner across Europe this year.
By Chris Borland
November 13, 2015 | 2:35 P.M.

The US private equity giant has bought the portfolio from the UK Asset Resolution (UKAR), the “bad bank” created by the government in 2010 to run down the loans in Northern Rock and Bradford & Bingley.

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