Funds show interest in managing property buyout agency
Six investment funds, Bain, Bayview, Bracebridge, CRC, Davidson Kempner and Fortress, have expressed interest in managing the agency that will acquire distressed properties and rent them back to their owners. The Finance Ministry is expected to give them until early September to submit full proposals and binding bids. The agency will be set up as part of the ‘second-chance law’ voted in 2020 to help homeowners that have fallen back on their mortgage repayments.
