TPG acquires $2.5bn Deutsche Bank loan portfolio for REIT

TPG has acquired the majority of a $2.5bn portfolio of high-yield real estate loans from Deutsche Bank’s Special Situations Group, taking along with it a team of 11 origination and risk management professionals. The private equity firm, through a newly-formed REIT called TPG Real Estate Finance Trust (TRT), acquired a 75% stake in the existing portfolio, and it has raised $750m in capital from institutional investors for new loan originations. Deutsche Bank retains a 25% interest.