Private equity firm AnaCap Financial Partners has acquired two Italian non-performing loan portfolios with a combined face value of €2bn (£1.5bn).
The two portfolios were sold by GE Capital Real Estate and Royal Bank of Scotland separately with values of around €1bn each.
Among the loans in the portfolios are secured and unsecured SME loans, with the secured portions held against both residential and commercial real estate.
In total AnaCap has around €8bn of non-performing loans in Italy. Most recently in 2014 and 2015 the company took two NPL portfolios from UniCredit with a combined face value of €2.5bn.
Justin Sulger, a partner at AnaCap, said: “We are delighted to have completed the acquisition of these two portfolios, adding to our extensive track record in the Italian market. Our earlier NPL investments means that we are very familiar with these types of residual claims and their varied servicing requirements. We are also pleased to continue to work with a growing range of financial institutions undergoing restructuring across Europe, including numerous repeat transactions, as well as a broadening network of trusted local partners.”
• To send feedback e-mail mike.cobb@estatesgazette.com or tweet @MikeCobbEG or @estatesgazette
