AnaCap buys €700m UniCredit loan portfolio

The majority of loans date back to 10 years ago. UCCMB manages €53bn in deteriorated credit.

As part of the ongoing process to improve its credit profile, the bank sold a portfolio of bad loans totalling almost €1bn to Cerberus European Investments in December 2013.

AnaCap bought a €551m portfolio of performing salary-secured loans from Italian banking group Gruppo Monte dei Paschi di Siena earlier this year.

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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• Southern Europe
• Italy