AnaCap buys Monte dei Paschi loan portfolio

The portfolio comprises 39,700 loans. The buyer was attracted by the low credit risk and stable returns, according to a statement.

The loans, known as cessione del quinto or CQS loans, are regulated under Italian law and have multiple layers of default protection including insurance against unemployment or employer default.

AnaCap, represented by Justin Sulger, will retain the portfolio’s existing servicing arrangements. 

AnaCap focuses on investments in the financial services sector. Notable transactions last year included the £50m management buyout of UK insurance provider Simply Business and the sale of consumer debt firm Cabot Credit Management to JC Flowers for a reported £800m. 

 

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• Topics
• Southern Europe
• Deals
• Italy
• AnaCap Financial Partners