Berenberg swoops for more RBS loans

Berenberg swoops for more RBS loans

Hamburg bank Berenberg together with an unspecified Japanese financial institution has purchased a further $460m shipping performing loan portfolio from the Royal Bank of Scotland (RBS).

Most of the loans purchased by Berenberg will go into the Berenberg Alternative Asset Fund in Luxembourg. Others have been transferred to selected third party investors.

“This shows that if you have the right know-how, it is possible to create attractive solutions for clients and investors even in challenging markets,” said Philipp Wünschmann, head of shipping at Berenberg. “With the combination of buying shipping loan portfolios and handling their asset management, we are further expanding our service offerings for clients and institutional investors. We see further attractive growth perspectives in this area.”

In the last 12 months Berenberg has transacted a volume of about $1bn in shipping loans, much of it with Japan’s Orix Corp.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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