Blackstone to Manage 1.4 Billion Pounds of RBS Loans, FT Reports

Royal Bank of Scotland Group Plc (RBS) will transfer 1.4 billion pounds ($2.3 billion) of high-risk U.K. commercial property loans into a structure controlled by Blackstone Group LP (BX) in a deal that will allow the state-owned bank to retain a share of future profits, the Financial Times reported, without attribution.

Blackstone, which will buy a minority position in the portfolio, will take over management of the loans from RBS, the newspaper said, without saying where it got the information.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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