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Do³±czy³: 05 Mar 2024
Posty: 1
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 Wys³any: Wto Mar 05, 2024 12:19 Temat postu: The truth about foreign investment: 'vulture funds' have a |
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The 'blues' (family office, pension funds) and sovereign funds (Norway, Gulf countries) continue to show no interest The Rajoy-Kirchner summit in Buenos Aires to unblock Repsol's conflict with Argentina over the expropriation of YPF is frustrated Banco Santander will place El Corte Inglés' non-performing loan portfolio into 'vulture funds' Bank of Spain. Bank of Spain The euphoria over a supposed return of foreign investment to Spain is not justified, according to venture capital companies. What are arriving are 'vulture funds' in search of bargains, which buy at knockdown prices. The conservative 'core' funds and the sovereign funds of rich countries have not shown their noses in Spain, according to media close to ASCRI , the venture capital fund association, explaining to El Confidencial Digital .
What we see is textbook, two or three years of unleashed purchases of opportunistic funds and the return of large stable funds with a dropper,” the employers point out. Rotten assets It is proven that the 'vultures' are the first to return to countries in difficulty. They land immediately, when asset price discounts reach 50 to 60%, what are called “rotten Middle East Mobile Number List assets. The first vultures were already buying in Spain since the summer of 2012 and positioned themselves strongly at the end of last year , just when SAREB , the bad bank, was created . " It's not by chance. The SAREB was the signal they were waiting for to confirm that the demolition prices of real estate and large loan portfolios of defaulters and bankruptcies would begin,” explains the employers' sources. A hundred funds The Cerberus, Apollo, TPG and company, 'distressed funds ' (vulture), up to a hundred of them are working.
They have bought the real estate agencies and subsidiary banks of the old savings banks, they are going to buy the real estate agencies of the big banks , but they are not the long-term investment that the country needs. They are immediate help for banking consolidation, required by the European Union in the MOU signed with the Government. “Without them, the general cleanup of damaged assets is not done, but with them the foundations for recovery are not laid either,” say the sources consulted. The “blues” are missing Real investors, the conservative and long-term ones , need to return to Spain. At this moment there are already some 'core' funds, German , Swiss , Luxembourg , English , that are looking at longer-term investments, but they have not yet made a move. German funds have bought real estate assets in recent months in Madrid and Barcelona and Canadian funds in Asturias.
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