Anacap Financial Partners, the private equity firm backers of Aldermore and previously of Syscap, has picked up two portfolios of Italian non-performing loans (NPLs) with a face value of more than 2bn, although the buy-price was not revealed.
The portfolios have been acquired from two Italian securitisation special purpose vehicles, whose asset backed securities were majority owned by GE Capital Real Estate and The Royal Bank of Scotland.
They comprise of two separate portfolios, each having a gross book value of about 1bn and including secured and unsecured SME loans, with the secured positions held against residential and other commercial property.
The acquisition adds to AnaCap credit funds’ existing holdings in Italy, which include two NPL portfolios totalling 2.5 billion, acquired from UniCredit in 2014 and 2015.
AnaCap funds have purchased around 8 billion of Italian NPLs over the past four years.
Justin Sulger, a partner at AnaCap Financial Partners LLP, 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."
Last September Anacap acquired FM Bank, a Poland-based retail and SME bank, for an undisclosed amount.