“Projects Amoeba and Jupiter in Greece as well as Project Helix in Cyprus showed that the demand exists for large NPL portfolios from the region,” said Tassos Kotzanastassis, founder and managing director of 8G Capital Partners. “Investors are drawn to the Greek and Cypriot NPL market at present due to the fact that there are a number of sales in the works – given the pressure that SSM is exerting on banks to reduce their NPLs – and also because NPL opportunities in the rest of Europe are deemed too expensive or lacking in sales flow.”
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