Soros joins bidding for Project Hercules

George Soros has entered the bidding for Catalunya Bank’s €6.5bn Hercules portfolio of loans, according to Spanish newspaper Expansion.   He has teamed up with alternative investment manager Varde Partners. The bulk of the 111,000 loans are on residential property, mostly  in Catalonia; 43% are non-performing and 15% are sub-performing: in default for less than […]