World’s biggest private equity firm led by Stephen Schwarzman. Vast profits made from distressed debt markets around the world. They have been an active investor in Ireland since the economic crisis and the collapse of the property market.
US private equity firm, setup to primarily operate in the distressed debt market. They have been active in Ireland purchasing a portfolio of commercial property loans from Ulster Bank. It was reported in late 2014 that they had paid €1.38bn for the loans. These loans had an unpaid loan balance of €5.6bn. Cerberus paid NAMA €800 million for project Arrow, a portfolio of more than 1,900 loans secured on properties in Ireland.
One of the largest international banks in existence, listed on New York and London stock exchange. Highly profitable in the distressed loan market. Goldman Sachs in conjunction with CarVal purchased a €2 billion portfolio of Irish buy-to- let residential and small commercial mortgages to from Bank of Scotland. Who were later purchased by Lloyds Banking Group in the UK. These loans are now being managed by Pepper.
Goldman operates a number of entities in Ireland. Recently, they were caught up in significant controversy when one of its SPV's, Beltany, was involved in a decision to evict over 100 families from their homes in Tyrrelstown in West Dublin. Goldman were blamed for forcing the developer to sell the properties and evict the families.
One of the world’s biggest private equity firms with €80 billion investments across 18 private equity funds. Extremely profitable due to its strategy of buying up distressed loan books and stripping the assets.
Lone Star and its affiliate Shoreline Residential are the main vulture funds which purchased the Irish Bank Resolution Corporation (IBRC) mortgage loans.
Shoreline don’t have physical operations in Ireland and have appointed a servicing agent, Pepper Asset Servicing, to manage the portfolio of loans here.
Lone Start and Hudson are headed up by Eddie Byrne who until 2011, was Head of Lending in Anglo North America, where David Drumm made his name in Anglo. Unusually Lone Star chose to purchase Start Mortgages outright and so have acquired their full back office and administration facility.
Start Mortgages, led by Alan Casey, have been among the most aggressive of all lenders in taking legal proceedings against customers in difficulty. Whilst continuing to run their own business, Start are beginning to get more involved in other Lone Star operations. When acquiring Start Mortgages, Lone Star also acquired an Irish lending license.
APOLLO GLOBAL MANAGEMENT
US based global alternative investment management company which profits from the purchase of distressed loan books across the world. Initially they came into Ireland to purchase MBNA, the credit card provider. They followed this up with the high profile purchase of loans associated with Arnotts; the Dublin based department store and progressed into the Irish residential distressed debt area.