Britain’s Asset Protection Agency issued an RFI for “a panel of risk and transaction advisory firms,” which can include money managers, to help manage a portfolio of high-risk debt valued around £282 billion ($473 billion) and transferred from the Royal Bank of Scotland, according to Tenders Electronic Daily.
Earlier this year, the APA was established by HM Treasury — the U.K.’s economics and finance ministry — to run toxic assets as part of a broader government bailout program.
According to the RFI, APA officials are looking to appoint managers to provide “certain risk management, asset valuation and credit restructuring advice.” In addition, the APA also requires advice on “exit strategies.”
Proposals are due Nov. 23. APA officials could not be reached by press time for further comment.
