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AnaCap Financial acquires €551m Italian loan portfolio

14 Jan 2014

euros_lrgEuropean private equity firm AnaCap Financial Partners has bought a €551m portfolio of performing salary secured (CQS) loans from Gruppo Monte dei Paschi di Siena in Italy.

AnaCap said it was attracted by the portfolio’s low credit risk and stable returns. It added that CQS loans are well regulated under Italian law and benefit from multiple layers of default protection.

The deal marked AnaCap’s fourth investment in Italy in the past 12 months.

AnaCap partner Justin Sulger said, “This portfolio provides attractive risk-adjusted returns, facilitated by our granular approach towards the valuation and due diligence of potential investments, as well as AnaCap’s extensive experience owning, building and managing regulated lending and servicing platforms.

“We also see the possibility of deploying further capital in new CQS origination over time, as local banks struggle to grow what is historically a well-established product that they can no longer fund as efficiently as they once could.”

AnaCap advises funds with €1.7bn under management across private equity and credit opportunities vehicles.

In August last year the firm backed a management buyout of online broker Simply Business.

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