Rothesay and CCF to acquire €6.7 billion portfolio of French home loans from HSBC
We are pleased to announce that together with consortium partner CCF Group (“CCF”), we have signed a memorandum of understanding with HSBC Continental Europe, agreeing to acquire a €6.7 billion portfolio of French home loans.
The majority of the portfolio consists of 25-year, fixed-rate, secured home loans for residential properties in France. This acquisition adds to our significant investment portfolio of high-quality illiquid assets which includes long-term, fixed-rate residential mortgages, lifetime mortgages, social housing and commercial real estate.
Prateek Sharma, Chief Investment Officer at Rothesay, commented: “This collaboration with CCF demonstrates the ability of Rothesay’s in-house investment team to source and manage high-quality assets across key international markets. Assets like these form an important part of our cautious, long-term investment strategy, generating predictable and dependable returns to create real security for our policyholders and the more than one million pensions we protect.”