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.
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Managing Director of Credit Village, Roberto Sergio has more than 20 years of experience in NPL and distressed debt in the Italian and International market. He is the editor of the NPL column in Credit Village Magazine and the director of Credit Village's National NPL Market Observatory.