The team advised a consortium of major Italian banks on the sale of a portfolio of approx. 160 UTP/non-performing receivables with total GBV of approx. 500€ mln to Fondo Efesto, an Italian closed-end umbrella alternative investment fund set up by Finint Investment SGR in partnership with Italfondiario, and the implementation, through the fund, of a dedicated platform devoted to the acquisition of portfolios of UTP/non performing receivables, with the aim of managing and improving such claims.
This is an innovative platform, the result of a study that lasted about a year, which, on the one hand, allowed the transfer of such a significant and diversified portfolio of positions, and, on the other hand, through the intervention of Italfondiario, will allow the granting of fresh money in order to carry out turnaround operations and overcome financial tensions.
Our team was led by partners Ugo Molinari, Maria Milano and Beatrice Neri, supported by associate Michela Maresca and trainee Gianluca Diena.