Luxembourg-based investment companies affiliated with private investment firm Elliott Management Corp. have agreed to buy all of the outstanding shares of Capmark Financial's Tokyo-based servicing business, Premier Asset Management Co. Financial terms for the transaction were not disclosed. Elliott said it will keep Premier's current management in place and expects to maintain its existing platform in the Japanese market. Premier is a commercial mortgage-backed securities and warehouse non-recourse loan servicer that also provides special servicing to defaulted non-recourse loans as well as third party nonperforming loan collections. A U.S. bankruptcy court has approved the transaction and it is expected to close by Jan. 29, 2010.
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