Anacap Financial Partners announced six investments in Italy on January 31st. This involves the purchase of four Npl secured portfolios, a structured credit follow-on transaction and a real estate investment (see the press release here).
In detail, Anacap purchased two Npl real estate portfolios secured by Cassa di Risparmio di Fermo and Cassa di Risparmio di Volterra and two portfolios on the secondary market. The transaction was carried out by Anacap’s dedicated asset management platform with the role of special servicer who is carried out by Phoenix Asset Management, an Italian credit servicer of which AnaCap bought a stake through in March 2018 (see here a previous article by BeBeez).
As for the follow-on structured credit transaction, Anacap did not provide details, but in January 2019 AnaCap Financial Partners announced the acquisition of a portfolio of performing loans to Italian SMEs, concentrated mainly in Northern Italy, worth 4 billion euros from an important Italian bank with which it had previously carried out transactions. The acquisition represented the first investment of the Credit Opportunities Fund IV (see here a previous article by BeBeez).
On the real estate front, on the other hand, Anacap took over two properties in Milan in the past few days, located in via Lepontina and via Valtellina (see the press release here). The buildings will be redeveloped in order to build apartments and student houses. Anacap was assisted in the transaction by the law firm Gatti Pavesi Bianchi and by Ludovici, Piccone & Partners for tax profiles.
The fund in June 2019 had acquired two prime properties in Rome: an office building in the center of the capital, to be restored, and a residential complex located on top of the Monte Mario hill, with a panoramic view of the city (see here a previous article by BeBeez).
In Italy AnaCap has already made 25 investments since 2012 for a total gross value of 20 billion euros. Among the previous deals, in 2017 AnaCap had acquired 177 million of performing and non-performing loans from Barclays Italian SMEs (see here a previous article by BeBeez), while in 2018 AnaCap funds bought 225 million Npl from Volksbank (141 million euros) and Banca di Pisa and Fornacette (84 million euros), with Phoenix Asset Management acting as special servicer (see here a previous article by BeBeez).
Natalia Joubrina, investment director at AnaCap Financial Partners, commented: “We continue to see attractive investment opportunities in the mid-market credit market in Italy, while banks try to sell assets that they do not consider more strategic. AnaCap has been a very active investor in Italy for the past seven years and we will continue to focus on the future on this market ”
AnaCap (acronym for Analytics before Capital, on the basis of which the company operates), is one of the main managers in the European financial services sector. Invest through private equity and credit strategies. AnaCap’s investment approach hinges on Minerva, the company’s proprietary digital platform. It has 6 offices including London, Luxembourg and New Delhi. In Italy it has been active since 2012.