You may recall the sale of Nama’s Northern Ireland’s property portfolio, Project Eagle, to US private equity firm, Cerberus Capital.

And how the sale is now the subject of investigation by the National Crime Agency in the UK and the Securities and Exchange Commission in the US, among others.

Further to this…

Bloomberg reports:

Cerberus Capital Management LP and CarVal Investors LLC are among funds circling two portfolios with a combined par value of €4.7 billion euros being sold by Ireland’s so-called bad bank, according to two people with knowledge of the matter.

Lone Star Funds is also interested in the loans held by the National Asset Management Agency, according to the people, who asked not to be identified because the process is ongoing.

The portfolios, known as Project Ruby and Emerald, will probably be sold at a discount to their original value by the agency, known as NAMA. First-round bids are due [tomorrow].


Readers may wish to note that the Sunday Times, under the Freedom of Information Act, obtained the diary of Ronnie Hanna – Nama’s head of asset recovery at the time of the sale of Project Eagle.

It shows Mr Hanna met with Cerberus chairman John Snow for an hour on March 31, 2014 – the day before the US fund was due to bid to buy Project Eagle.

This is what Nama told Mick Wallace when he asked about Mr Hanna…


Seems legit.

Lone Star, Cerberus Said Circling Two NAMA Portfolios (Bloomberg)

Nama man Ronnie Hanna met Cerberus chief hours before Project Eagle bid deadline (The Irish News)

Previously: Spotlight Falls On Noonan

17 thoughts on “Cerberusly?

  1. Kolmo

    Every time I read about this greasy deal – It’s in a Wexford accent..

    Does anyone have the figures that show the loss to the Irish taxpayer these sweet, sweet discounts are making?

  2. blueswannabe

    So is there NO legal repercussions whatsoever for NAMA lying to a member of Parliament? It’s mind boggling how little accountability there is in Ireland, wouldn’t hold my breath on MSM covering this either.

    1. Tish Mahorey

      NAMA is a lone wolf, deliberately set up as a parallel apparatus to the state so that people could be massively enriched and nobody held accountable.

      Real democracies with balls don’t subvert themselves like that.

      NAMA is just as subversive to the state as paramilitaries. They just do it by denying the citizens of billions in lost revenue with series repercussions for society.

      1. nellyb

        It’s not the corruption that p&$$€$ people off, politics full of these in any country.
        But the incredible lack of imagination, critical thinking, aspirations and care about long term future – all the drivers of human progress.
        Just look at current “government formation”, it’s as sad looking as post-op dog in color trying to groom itself.

    2. Anne

      None whatsoever.. and the response Mick Wallace got from Moany Joan was he’s using the trick lawyers use asking questions, coz lawyers ask questions.. and it’s a trick. And he’s gone bitter over his own business dealings.. and of course his mic was turned off by Sean Barrett.

      Absolutely no oversight as they asset strip the Irish nation..

        1. They Tried To Make Me Go To Rehab

          you were already a slave

          oopps sorry am I being uncivilised again?

          should I ‘go away’?

  3. Anne

    So there’s no problem whatsoever as far as NAMA are concerned with selling to a crowd who are being investigated by the National Crime Agency in the UK and the Securities and Exchange Commission in the US… none at all?

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