Irish Banks May Place Mortgages Into Hedge Funds, Tribune Says

Dec. 5 (Bloomberg) -- Ireland’s banks may transfer thousands of mortgages into private equity and hedge funds under International Monetary Fund plans, the Sunday Tribune reported, citing a person familiar with the matter.

The banks could move batches of loans into special purpose vehicles or joint ventures with distressed debt investors and then hold the assets until buyers are found or the loans are paid off, the Dublin-based newspaper said.

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

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