European private equity firm AnaCap Financial Partners (AnaCap) has announced the €225 mln acquisition of Italian non-performing loans in two separate portfolios.
A €141 mln NPL secured portfolio was acquired from Volksbank, primarily comprised of SME loans. The majority of the portfolio is backed by property in Northern Italy.
In addition, AnaCap has acquired from Banca di Pisa e Fornacette Credito Cooperativo an €84 mln NPL portfolio also comprised of predominantly SME-secured (small and middle-sized enterprises) loans, largely collateralised by real estate in Tuscany.
These acquisitions follow on from more than €8 bn of performing and non-performing loans that funds advised by AnaCap have purchased in Italy in recent years. Phoenix Asset Management (PAM), with which AnaCap has worked closely since inception, will be appointed the special servicer for both portfolios.
Established in 2005, AnaCap Financial Partners is Europe’s largest specialist private equity investor in the financial services sector.
'AnaCap has leveraged its extensive track record in Italy to originate and complete the acquisition of two attractive loan portfolios,' said Sean Dawson, managing director at AnaCap Financial Partners. 'This is further evidence of our reputation as a trusted counterparty that can efficiently provide solutions to sellers across a broad range of secured and unsecured asset types.'
