Cerberus Capital Management sees 5 more years of buying loans

The biggest buyer of soured real-estate debt in Europe says disposals of non-performing loans from across the continent’s banks and governments will continue until at least 2021.

Cerberus Capital Management, which acquired more bad loans in Europe than any of its peers in the past two years, expects the market to remain busy, said John Snow, the private equity company’s chairman and former US treasury secretary for President George W Bush.

The US private equity firm purchased €28bn of the debt last year.