Investment funds advised by Davidson Kempner Capital Management LP, have completed the acquisition of a portfolio of non-performing loans from Abu Dhabi Commercial Bank PJSC, a full-service commercial bank with a primary focus on the United Arab Emirates.
The transaction represents the first sale of a significant portfolio of non-performing loans by ADCB and is thought to be the largest such transaction effected to date in the UAE. The Portfolio acquired by Davidson Kempner consists of 44 corporate loans to UAE-based small and medium-size enterprises, with an aggregate face value of AED 4.2 billion (US$1.1 billion/GBP 925 million).
Seapoint Capital Limited will act as the Special Servicer for Davidson Kempner, and Reviva Capital S.A. will act as Loan Servicer for Davidson Kempner.
About Davidson Kempner Capital Management LP
Davidson Kempner Capital Management LP is a global investment management firm with more than 39 years of experience and a focus on fundamental investing with a multi-strategy approach. Davidson Kempner has approximately $36 billion in assets under management and over 500 employees across seven offices: New York, Philadelphia, London, Dublin, Hong Kong, Shenzhen and Mumbai. Additional information is available at: www.davidsonkempner.com.
