Sankaty to acquire portfolio of loans, other securities from JPMorgan

By Tali Rackner

Norfolk, Va., July 28 – Sankaty Advisors, LLC signed a definitive agreement to acquire a portfolio of loans and other securities from J.P. Morgan’s Global Special Opportunities Group, according to press release.

The portfolio contains mezzanine loans in North America and Europe as well as loans and related special-situation investments in Australia and across Asia with an aggregate value of about $1.3 billion.

This acquisition follows Sankaty Advisors' other recent purchases of loan portfolios from Irish Bank Resolution Capital, Lloyds Banking Group and CapitalSource.

The transaction, which is expected to close by the end of 2014, is subject to borrower and regulatory approvals. Kirkland & Ellis, LLP acted as legal counsel to Sankaty Advisors. JPMorgan advised on the sale, and Davis Polk & Wardwell, LLP acted as legal counsel to JPMorgan.

Boston-based Sankaty Advisors is the credit investment unit of Bain Capital LLC.

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