24.09.2012 - Ireland's 'bad bank' seeks sovereign funds
Ireland's "bad bank" plans to attract at least 500 million (Dh2.38 billion) to create a giant fund aimed at sovereign investors betting on a property recovery. The bad bank, otherwise known as the National Asset Management Agency (Nama), acquired 74bn in loans from five of the country's largest lenders in 2009 as excessive lending to the property sector threatened to trigger the collapse of the entire Irish banking system. Now the agency that controls assets worldwide, from terraced houses in the capital to huge developments across the country and others abroad, is pursuing regional investors as it bids to maximise returns to the government and replenish state coffers...............................................Full Article: Source
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