Blackstone, TSSP, CarVal to acquire $5.9B home lending portfolio from GE
November 24, 2015
Blackstone, TPG Special Situations Partners and CarVal Investors have agreed to purchase a portfolio of first lien mortgage loans from GE's U.K. Home Lending business. The loans have a face value of $5.9 billion. When the transaction closes, expected in December, GE reported it will have roughly $400 million of ending net investment remaining in its U.K. mortgage business, down from approximately $13 billion of ENI in the beginning of the year.