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Pepper wins Irish servicing contract

Non-prime lender and loan servicer Pepper Australia has won a loan servicing and asset management contract in Ireland.CarVal Investors, which bought the €380 million commercial real estate portfolio from Lloyds last month, has appointed Pepper as loan servicer, master servicer and asset manager.Pepper is making a €3 million co-investment in the portfolio, which was acquired for around 25 cents in the euro.Pepper established a base in Ireland in June last year, when it bought a €600 million mortgage book from GE Capital. Pepper had a busy 2012. It bought a A$150 million auto and equipment finance portfolio from Suncorp, and it took over a real estate advisory business, Grant Samuel Property.

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