Nama chooses Pepper Asset Servicing for €1.8bn IBRC portfolio

The National Asset Management Agency (NAMA) has selected Pepper Asset Servicing as its preferred bidder to provide services on the portfolio of personal loans, principally residential mortgage loans, which it may acquire from the liquidators appointed to IBRC.

Today's announcement follows a competitive tendering process which was launched in September.

This portfolio could potentially comprise loans with an aggregate nominal par debt value of €1.8bn, according to NAMA, depending on the extent to which loans are sold by the liquidators during the current sales process.

Pepper Finance Corporation (Ireland) Limited, trading as Pepper Asset Servicing, was established in September 2012 and employs 170 staff in Dublin and Shannon.

Pepper Ireland is part of the Pepper Group which has its headquarters in Sydney, Australia and which specialises in lending, advisory and asset management services.

The appointment is subject to agreement on contractual terms.