Cerberus Capital Management is selling a loan portfolio on a fleet of 60 ships with a nominal value of nearly $1bn.
The so-called Nassau Portfolio is tipped to be sold to New York-based Fortress Investment Group in partnership with London-based private equity fund Cross Ocean Partners, according to German sources.
The loan package is the largest to be sold since Cerberus last year replaced German banks as the biggest holder of the country’s shipping debt.
