• Contacts
Thursday, 2 February 2023
  • it Italiano
  • en English
Newsletter
BeBeez
  • .
  • Home
  • RISK CAPITAL
    • Angels & Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • CREDIT & DEBT
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • ANALYSIS & COLUMNS
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • TOOLS
    • Sectors & Companies
    • Events
    • BeBeez Academy
    • BeBeez Podcast
  • BEBEEZ PREMIUM
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • Login
Abbonati
  • Home
  • RISK CAPITAL
    • Angels & Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • CREDIT & DEBT
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • ANALYSIS & COLUMNS
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • TOOLS
    • Sectors & Companies
    • Events
    • BeBeez Academy
    • BeBeez Podcast
  • BEBEEZ PREMIUM
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • Login
Abbonati
BeBeez
Home Beez Peak

Beez Peak – 5 agosto 2019

bebeezbybebeez
5 August 2019
in Beez Peak
Share on FacebookShare on Twitter

Beez Peak

by Stefania Peveraro
stefania.peveraro@edibeez.it

Past week for the Italian and international private capital world has been an intense one. It’s a bit like the approach of Christmas. The deals must absolutely be closed now or never.

Thus, on 1 August, the official announcement of the London Stock Exchange arrived on the transaction with Refinitiv, which confirmed the 27 billion euros deal, of which 14.5 billions in equity value, with Refinitiv shareholder funds that will end being shareholders of the new group at 37% (see here a previous post by BeBeez and here the previous Beez Peak).

But in the meantime someone starts to think that the Italian subsidiaries of the LSE could have another destiny. The hypothesis of an hard Brexit continues to flutter and the idea of ​​having not only Borsa Italiana, but also Cassa di Compensazione & Garanzia (CC&G) and Monte Titoli under control of a non-EU entity, does not appeal to many. So there are those who already imagine the Italian National Promotional Institution, Cassa Depositi e Prestiti, at work. Cdp might intervene with its wholly controlled private equity investment vehicle Cdp Equity and its sponsored infrastructure private equity fund F2i, as the financial infrastructures are to be considered strategic and therefore m&a is subject to the Italian Government’s approval. Moreover, there are new European regulations on the subject, which will come into force next fall. I will write about this issue soon, following a chat with a well-known lawyer.

The Italian bomb news of Friday 2 August was the acquisition of Pegaso Telematic University by CVC Capital Partners. I wondered why a pan-European fund that usually invests in deals for billion of euros had decided to invest in the telematic universities founded by Danilo Iervolino. I asked myself why as I didn’t imagine that the telematic university business was of that scale. On the contraty, a friend close to the deal, commenting on the news on the phone on Saturday, explainedme that Pegaso was valued at one billion euros. Chapeau to Iervolino, which has also maintained strong governance within his company.

The other sensible news of last week was undoubtedly the Dea Capital-Quaestio deal, which sees the exit of the founder of Quaestio, Alessandro Penati and the entry of Dea Capital in the Npl sector. That Dea Capital was in talks with Quaestio to take over the management of the two funds Atlante and Italian Recovery Fund was known, but the scope of the agreement resulted much broader, given that it also involves Dea Capital’s entry into the capital of Quaestio Holding , acquiring all the shares of Mr. Penati and part of other stakes to reach a maximum of 44%. With this transaction, the Dea Capital-Quaestio platform becomes an asset manager of primary standing in Italy, with 20 billion euros of assets under management and Dea Capital Alternative Funds sgr becomes by far the main Italian manager of alternative assets. So it is logical to expect that new dedicated funds will be launched, in addition to those already operating for some time on the single-name impaired loans front, ie the Dea Capital Corporate Credit Funds I and II, with the latter also having a section dedicated to shipping.

On the subject of single-name UTPs, I recently had a chat with Michel Lowy, co-founder of the Hong Kong-based banking group SC Lowy. And I tell you that he is not an actor to be underestimated. He has a focus on very strong Italy and he certainly does not lack the capital. I will write about this in detail tomorrow.

Finally, a consideration on the issue of banking loans to performing companies. In recent weeks, the senior tranches of two SME loans’ securitizations have been listed on the ExtraMot Pro market, one by Banco delle Tre Venezie and the other by Banca Valsabbina. No public deal of this type had been seen for some time. The declared objective is to free up supervisory capital and collect liquidity to make new loans to SMEs. We hope this is the beginning of a virtuous trend. Moreover, the asset class is obviously interesting for investors, given that in both cases the rating is A and the coupons are indexed to the 3-month Euribor rate plus 50 basis points.

Along the same line is also the synthetic securitization carried out by Banca Popolare di Bari. In this case, obviously, the bank avoided going on the market, given the known events that involved it, but sought an alternative way to obtain the same result and therefore substantially underwrote a credit default swap contract with Christofferson Robb & Company, to protect part of a loan portfolio from SMEs of 3 billion euros.

Tags: AIFMBanca Popolare di BaricartolarizzazioneDeA Capital

Iscriviti alle nostre Newsletter

Iscriviti alle newsletter di BeBeez

Iscriviti
Previous Post

Italy’s private equity and m&a weekly roundup. News from Gamenet, NB Aurora, Salcef, Red-Fish Kapital, Bluegem, Ambienta, Alcedo, Tecnica, Progressio, Ergon, Quadrivio, Xenon, RGI, Eurofiere, Sisal, renewable energy

Next Post

Goldman Sachs e Banca Finint to buy from Ing Bank leased, performing and non-performing loans, contracts and assets for 1,6 bn euros

Related Posts

Beez Peak – 11 Jan 2021 – Soccer, some investors want teams and some national leagues. Everybodys targets the stadiums business
Beez Peak

Beez Peak – 11 Jan 2021 – Soccer, some investors want teams and some national leagues. Everybodys targets the stadiums business

11 January 2021
Beez Peak

Beez Peak April 6th 2020 – Liquidity decree, Italian banks’non-performing exposures, ideas for relaunching the economy

6 April 2020
Beez Peak

Beez Peak – March 9th 2020 – Fintech and minibond to help Italy’s SMEs looking for cash in new coronavirus scenario

9 March 2020
Beez Peak

Beez Peak – February 10th 2020 – Peaks from Bank of Italy, servicers, Utp, fintech and LSE

10 February 2020
Beez Peak

Beez Peak – January 7th 2020

7 January 2020
Beez Peak

Beez Peak – December 23rd 2019

23 December 2019
  • Report
  • Events
  • BeBeez Podcast

Report

Venture capital down and super concentrated in Italy in 2022. Only 36 rounds raised 2.2 bn euros out of a total of 358 rounds and 2.57 bn (up from 2.9 bn in 2021). BeBeez Report.

Venture capital down and super concentrated in Italy in 2022. Only 36 rounds raised 2.2 bn euros out of a total of 358 rounds and 2.57 bn (up from 2.9 bn in 2021). BeBeez Report.

25 January 2023
While venture capital activity in the third quarter of the year collapsed globally, Italy was an exception, with as many as 80 rounds raised for a total value of more than €1 billion. Q3 BeBeez Report

While venture capital activity in the third quarter of the year collapsed globally, Italy was an exception, with as many as 80 rounds raised for a total value of more than €1 billion. Q3 BeBeez Report

13 October 2022
BeBeez’s Fintech Report, more than €1bn raised by Italian startups and scaleups in 9 months. While lending platforms fueled more than 2.8 bn to SMEs in 6 months

BeBeez’s Fintech Report, more than €1bn raised by Italian startups and scaleups in 9 months. While lending platforms fueled more than 2.8 bn to SMEs in 6 months

10 October 2022
Private debt hits a record in Italy in 2021 with volume over 26 mld euro, twice the figure in 2020. The new Report by BeBeez. See here all the tables

Private debt hits a record in Italy in 2021 with volume over 26 mld euro, twice the figure in 2020. The new Report by BeBeez. See here all the tables

14 March 2022

Events

Merry Christmas and a 2021 of rebirth to all our readers!

Merry Christmas and a wish for 2023 to be a really good year for everyone!

24 December 2022
We wait for you in London at the Global NPL by Smith Novak next Oct 5-6. BeBeez is media partner

We wait for you in London at the Global NPL by Smith Novak next Oct 5-6. BeBeez is media partner

14 September 2022
Have a wonderful Summer! BeBeez goes on vacation and comes back on August 23rd. Catch our Summer offer and try BeBeez Private Data!

Happy Summer! BeBeez goes on vacation and comes back next August 22nd

8 August 2022

BeBeez waits for you next Wed July 6th at a webinar by Equita and Morri Rossetti to talk about MBOs in Italy versus France and Germany. BeBeez is unique media partner

1 July 2022

BeBeez Podcast

No Content Available

Co-sponsors

Partners

Tag

Banca Ifis Banco Bpm BeBeez Magazine bilanci bilancio blockchain bond Coronavirus COVID-19 Credito Fondiario deteriorati Gacs governo Hines hotel Illimity Italia Italy Italy Kryalos Lbo index L Catterton Leanus logistica magazine NB Aurora nexi NPE npl npl Pir private capital private debt private debt private equity private equity private equity quotazione real estate Roma Round scaleup Utp venture capital venture capital
This site generates cookies, all of which are necessary for it to work properly. Here is our cookie policy page.

Necessary cookies

Cookie Google Analytics

Cookie tecnici

List of cookies - Privacy policy - Cookie policy
x
Cookies?
Bebeez

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

Follow

Risk Capital

  • Angels & Incubators
  • Venture Capital
  • Private Equity
  • Club deal
  • Spac
  • Euronext Growth Milan
  • Real Estate
  • Private equity, venture capital and private debt data in the world
  • Private capital in the world
  • Real Estate in the world

Credit & Debt

  • Private Debt
  • Crisis & Relaunch
  • Bad loans and other NPLs

Analysis & Columns

  • Insight Views EN
  • Report
  • Beez Peak
  • Comments
  • Data & Analysis
  • Fintech
  • Management
  • Art&Finance
  • GreenBeez

Tools

  • Sectors & Companies
  • Events
  • BeBeez Academy
  • BeBeez Podcast

Who we are

  • Who we are
  • What people say about us
  • Contacts

Personal data management

  • Login BeBeez News Premium
  • Subscribe

Information on the site

  • Privacy Policy
  • Terms and conditions of use
  • Cookie Police
  • Site Map

Powered by Olomedia © 2021

  • it Italiano
  • en English
  • Risk Capital
    • Angels&Incubators
    • Equity Crowdfunding
    • Venture Capital
    • Private Equity
    • Club deal
    • Spac
    • Euronext Growth Milan
    • Real Estate
    • Private equity, venture capital and private debt data in the world
    • Private capital in the world
      • Private capital in Europe
      • Private capital in Asia Pacific
      • Private capital in North America
      • Private capital in the rest of the world
    • Real Estate in the world
      • Real estate in Europe
      • Real Estate in Asia Pacific
      • Real Estate in North America
      • Real Estate in the rest of the world
  • Credit & Debt
    • Private Debt
    • Crisis & Relaunch
    • Bad loans and other NPLs
  • Analysis & Columns
    • Insight Views EN
    • Report
    • Beez Peak
    • Comments
    • Data&Analysis
    • Fintech
    • Management
    • Art&Finance
    • GreenBeez
  • Tools
    • Sectors & Companies
    • Events
    • BeBeez Academy
    • BeBeez Podcast
  • Bebeez Premium
    • BeBeez Private Data
    • BeBeez News Premium
    • Pricing
    • Subscriber Access
  • My Account
  • Subscribe

Powered by Olomedia © 2021

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Search...