Alantra has acquired the Portfolio Solutions Group business from KPMG UK, which specialises in advising financial institutions in relation to non-performing and non-core banking assets globally. Closing of the transaction is expected for early August (see here the press release).
The team comprises over 35 dedicated professionals and has led more than 100 transactions across 30 countries, with a combined deal value in excess of 180 billion euros since 2014. Current live mandates exceed a face value of 16 billions. As for Alantra, its existing portfolio advisory business, headquartered in Madrid and comprising 40 dedicated professionals, has led 80 transactions in five countries for a total volume of over 65 billion since its incorporation in 2014.
The joint team, to be branded as Alantra Corporate Portfolio Advisory, will become the leading portfolio advisory unit in Europe, with about 70 seasoned professionals dedicated to transaction execution, structuring, pricing, modelling and data enhancement in relation to loan portfolios and servicing platforms. The team will be led by Joel Grau, Andrew Jenke and Nick Colman, together with other managing directors based in London, Madrid, Milan, Athens, Dublin and Lisbon.
The Italian NPLs’ advisory team of Kpmg won’t be part of the deal (even if 4 or 5 Italian professionals actually based in London will be moved to Alantra’s offices in Milan) and the same will happen for all the local Kpmg teams in the rest of Europe.
In Italy Kpmg is now working for Banco Bpm as the financial advisor, together with Deutsche Bank, in the auction for an Npl portfolio (Project Ace) and the bank platform managing NPLs (see here a previous post by BeBeez). Kpmg is also financial advisor to gruppo Credit Agricole Italia in the sale of a one billion euros NPLs portfolio through a securitization with the Italian Government guarantee (Gacs) (see here a previous post by BeBeez) and its is also supporting the investment banking division of Crédit Agricole in the sale on the secondary market of a 6 billion euros portfolio of NPLs originally issued by Italian banks (see here a previous post by BeBeez).
As for the last closed deals, Kpmg was for example the advisor of Alba Leasing in the sale of a 100 million euros NPLs portfolio to Bain Capital Credit, through its Italian subsidiary Aquileia Capital Service (see here a previous post by BeBeez). Last January Kpmg was instead advisor to Gruppo Banca Popolare di Bari in the sale to Cerved Credit Management Group of the bank’s NPLs managing platform (see here a previous post by BeBeez). While at the end of 2017 Kpmg managed the auction for CAF spa, a Rome-base servicer controlled by private equity firm Lone Star, which was then sold to Intrum (see here a previous post by BeBeez).
Alantra is growing fast in the last few months. Last October, just onbe year after its name had changed from N+1 to Alantra (see here a previous post by BeBeez), the intermationala dvisory company announced themerger with UK m&a advisory firm Catalyst Corporate Finance (see here a previous post by BeBeez).