Hoist Italy has aquired from Italo Sicav plc, a multi-segment vehicle incorporated under Maltese law, a portfolio with a GBV of approximately 100 million euro . In detail, the portfolio, called Prometheus, includes both unsecured granular NPLs and a significant portion of reperforming loans and was sold by the securitization vehicle Italo Sicav spv srl.
Italo Sicav, which manages 4 sub-funds (Sentinel I, II, III and IV) for a total of 3.7 billion in assets, was established in 2015 by the Frascino Group and the Swiss Zarattini Bank and is formally managed by Gamma Capital Markets Ltd .
It’s a re-trade deal . Italo Spv aquired the claims in previous transactions
The lack of opportunities in the primary NPE sale market drive many debt buyers to buy portfolios in secondary markets.