(Bloomberg)The British government selected CarVal Investors LLC and Elliott Management Corp. to enter a second round of bidding for its largest-ever disposal of U.K. financial assets, according to two people familiar with the process.
The U.S. hedge funds are among as many as eight companies seeking to purchase as much as 15.7 billion pounds ($19.4 billion) of mortgages from a lender rescued by the government during the financial crisis, said the people, who asked not to be identified because they’re not authorized to talk about it. Blackstone Group LP and Cerberus Capital Management LP are also on the shortlist.
