Hedge fund makes bold bid to seize UK mortgage book

Clifden IOM No.1, a real estate-focused hedge fund, has launched an audacious bid to take control of £2bn of pre-crisis UK mortgages, launching a tender that could forestall a refinancing of the portfolios by the original lender, Paratus AMC. Owen Sanderson reports.

  • By Owen Sanderson
  • 11 Jan 2018
The tender was announced on Monday, targeting 76 bonds across 17 deals from the pre-crisis non-conforming Residential Mortgage Acceptance Corp (RMAC) shelf. The deals were issued between 2003 and 2007 by GMAC-RFC, an originator controlled by General Motors, but the sponsor is now Paratus AMC, controlled by Fortress ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,712.34 6 12.44%
2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
4 Mizuho 1,215.54 3 8.83%
5 Wells Fargo Securities 1,012.71 4 7.36%