Mount Street snaps up WestLB €29bn loan book
UK-based loan servicer Mount Street has bought EAA Portfolio Advisers, along with its contract to manage a €29bn loan and ABS portfolio of former WestLB assets, more than doubling the servicer’s assets under management.
The servicing company has struck an agreement to acquire EPA from Erste Abwicklungsanstalt (EAA), which was created in 2009 as the “bad bank” to manage the assets of WestLB, the former German landesbank that was finally liquidated in 2012.EPA has managed the portfolio for seven years, winding ...
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