Mount Street and Technical Olympic have joined forces to target non-performing loans (NPL) investment opportunities across a range of sectors in Greece and Cyprus.
The partnership will target investment and co-investment NPL opportunities in the real estate, shipping, infrastructure, renewable energy, hospitality and broader SME sectors.
In a joint statement, the duo said the venture has “onboarded €33m of real estate-backed NPL” in its first month of operation.
Ravi Joseph, CEO at Mount Street, said: “This portfolio both marks the start of our new joint venture with Technical Olympic and is demonstrative of the quality of opportunities that we believe are available in the Greek and Cypriot markets.
“Effective management and servicing of NPLs is a demanding operation and our partnership with Technical Olympic, a highly successful investment firm, is a thorough endorsement of our strong and growing capabilities in this area and region.”
Mount Street is a global third-party loan servicing and credit asset management firm with €80bn of assets under management.
Athens Stock Exchange-listed Technical Olympic is a diversified Greek holding and investment group active in the construction, real estate, hospitality, infrastructure and shipping sectors.
“We look forward to leveraging the combined expertise of this new joint venture in order to grow the portfolio under management and maximise the potential of the underlying assets and exposures,” Joseph said.
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