Fortress Inks Deal to Provide £750 Million for UK Dental Loans
- Fortress will hold loans originated by Tabeo in an SPV
- Speciality finance has gathered more interest in recent years
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Fortress Investment Group is providing £750 million ($954 million) to Tabeo Ltd., which specializes in consumer healthcare financing, to approve and manage loans for dental work.
Tabeo will receive a fee for managing the debt, mostly interest-free loans, and monitoring that borrowers pay on time. Fortress plans to hold the loans in a special purpose vehicle, according to Ola Eriksson, managing director for the New York-based direct lender.