Leading international law firm Freshfields Bruckhaus Deringer has advised funds managed and/or advised by Blackstone Tactical Opportunities, TPG Special Situations Partners and CarVal Investors on their acquisition from General Electric of a US$5.8billion portfolio of UK home loans representing General Electric’s UK Home Lending portfolio.

This transaction is in line with GE’s on-going strategy to focus on its industrial business and to divest most of GE Capital’s assets. The transaction is expected to close in December 2015.

David Higgins, corporate partner and Co-Head of Freshfields’ Global Financial Investors Group, commented, ‘The complex nature of the transaction structure required here brought to the fore the strengths and expertise of the Freshfields Global Financial Investors Group, whose experience in advising on deals of this nature is second to none. It is a strategically important transaction for all parties involved and we are delighted that we’ve again been able to assist Blackstone and TPG and further develop the established working relationship that we have with them.’

The Freshfields team was led by London corporate partner David Higgins assisted by associates Mark Brewer and Duncan McMeekin.