US fund Cerberus to buy €1bn Project Arrow portfolio from Nama

US investment fund Cerberus is to buy the massive Project Arrow portfolio from Ireland's bad-bank.

US investment fund Cerberus is to buy the massive Project Arrow portfolio from the National Assets Management Agency (Nama).

While the price has not been revealed, although Nama stated weeks ago that it had a reserve value in the region of €1bn - one fifth of what was originally borrowed by developers, investors and speculators.