HIG Capital has acquired a portfolio of Italian non-performing loans in its 14th real estate transaction in Europe since 2013. The value and the purchase price were not disclosed.
HIG Capital has acquired a portfolio of Italian non-performing loans in its 14th real estate transaction in Europe since 2013. The value and the purchase price were not disclosed.
The US private equity firm said the loans were originated by Italian banking group Cassa di Risparmio di Cesena, and the transaction took the form of an investment through an Italian securitisation.
The portfolio comprises 52 non-performing loans backed by a mixture of residential and commercial real estate, predominantly in the regions of Emilia-Romagna and Marche in northern Italy. The transaction was agreed at end-2014 and completed on 29 January this year.
'This deal marks the second NPL investment completed by HIG in Italy in the last six months. 'This underscores our continued focus on the Italian real estate market. We are excited about the opportunities available in Italy and pleased with our ongoing collaboration with Eidos Partners,' Ahmed Hamdani, HIG's UK managing director, said.
HIG is a global private equity and alternative assets investment firm with more than $17 bn (€15 bn) of equity capital under management.
