Trio of firms pick up $5.8bn GE loan book

Blackstone, TSSP and CarVal have agreed to buy roughly $5.8 billion in mortgage loans from GE Capital’s UK Home Lending business, as GE prepares to exit the market.

General Electric (GE) has agreed to sell a $5.8 billion par value portfolio of first-lien mortgage loans from its UK Home Lending business.

A consortium of funds managed by Blackstone, TPG Special Situations Partners (TSSP) and CarVal Investors is in line to buy the loans, GE announced on the New York Stock Exchange (NYSE).

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