Oaktree, Chenavari win €1.3bn Bankia portfolios

Oaktree Capital Management and hedge fund Chenavari are buying three loan portfolios worth a total of €1.3bn from Spain’s Bankia. The two investors have split Bankia’s €918m Portfolio Mast, which comprises of 4,300 unpaid residential mortgages with an average value of €214,000, made to individuals in Catalonia, Madrid and Valencia.