AnaCap Financial Partners has completed the acquisition of EUR1.9 billion non-performing loans (NPLs) from Italian lender UniCredit Group.
Under the terms of the agreement, funds advised by AnaCap will acquire the portfolio.
The portfolio primarily consists of secured and unsecured bankruptcy and other enforcement claims. A significant portion of the portfolio will continue to be serviced by UniCredit Credit Management Bank, with the management of a portion of claims migrated to third parties. Investments completed with UniCredit in 2013 also paved the way for this transaction, establishing a strong partnership between the seller and incumbent servicing partner.
The latest transaction is among the largest of its kind in Italy to date.
Justin Sulger, a partner at AnaCap, says: “We are delighted to have completed this acquisition, emphasising our commitment to helping rebuild the European financial services sector by establishing strong partnerships with institutions like UniCredit. We remain highly confident in our ability to continue to deploy capital in a wide range of credit opportunities across the continent, harnessing broad based expertise in financial services, including a deep understanding of consumer, SME and mortgage debt in local markets.”