Bayside Capital, a credit affiliate of H.I.G. Capital, announced the investment, through an Italian securitization, in a secured Italian NPL portfolio. The loans are secured on a mix of residential and commercial real estate assets located mainly in the regions of Ravenna and Bologna.
Ahmed Hamdani, Managing Director in the UK at Bayside Capital said, “We are pleased to make our first investment in the Italian market and to be working with Fare NPL in this transaction. We believe the Italian market presents excellent value and this transaction reflects H.I.G.’s commitment to growing its Continental European real estate and NPL business.”
Chris Zlatarev, Director in the UK at Bayside Capital added, “We are pleased to conclude this complex transaction originated by Cassa di Risparmio di Ravenna and structured also through our servicing partner Fare NPL. The transaction highlights our collaborative approach and we are already working on further transactions in the Italian market.”
This transaction is the first NPL acquisition in the Italian market by H.I.G. Capital, with significant presence in Italy, led by Raffaele Legnani, who heads its Milan office.
Source: H.I.G. Capital