Quaestio Holding SA (“Quaestio”) has signed an exclusivity undertaking with Cerved Information Solutions SpA (“Cerved”) for the negotiation of an agreement which contemplates an industrial partnership in special servicing activities. The agreement also envisages the joint acquisition of the credit servicing platform (a.k.a. “Juliet”) of Banca Monte dei Paschi di Siena SpA (“MPS”) with respect to which Quaestio has entered into exclusive negotiations with MPS, in consideration of its role as leading investor in the securitization of its NPL portfolio.
05 Jul 2017
The MPS servicing platform has been managing the non performing loan book of MPS for a number of years in an effective manner and, in virtue of the acquisition by the joint venture between Quaestio and Cerved, would be significantly reinforced, thanks to the relevant contribution in terms of know how developed by both groups in the field of non performing loans.
The partnership underlying the exclusivity undertaking is based on the objective of creating a new entity which can assist banks in selling and/or outsourcing their NPLs, moving into the direction of an industrialised management of non performing loans, via the sinergistic combination of each party’s specific competences; as regards Quaestio, knowledge regarding bank capital structures, regulatory aspects and structured finance necessary to provide relevant consulting to banks; as regards Cerved, the professional competences in managing distressed bank loans and real estate assets on an independent basis.
The partnership has strategic relevance both for Cerved, which would lead to an important extension of its areas of operation, as well as for Quaestio, which would obtain an important instrument for the optimal management of the investments made through Atlante II and all other initiatives in the loan’s management that the company will launch in the following years.
DeA Capital S.p.A. is entering the capital of Quaestio Holding with an interest of 44% to become its relative majority shareholder, alongside Fondazione Cariplo and the other “historic” institutional shareholders with the aim of strengthening the company and supporting its new phase of development.
New closing for the Quaestio Private Markets Funds – European Private Debt fund
Quaestio Capital Management SGR has today approved the signing of an agreement, on behalf of the Atlante II Fund, for the purchase of the portfolio of Euro 343 million of impaired loans held by Nuova Cassa di Risparmio di Ferrara S.p.A., the entity which arose following the resolution of the previous Cassa di Risparmio di Ferrara in November 2015.
The Fund’s intervention in purchasing the npls has been one of the decisive factors in arriving at a solution for MPS, as was also seen in the case of the good banks acquired by UBI and BPER.
The Board of Directors of Quaestio Capital Management SGR S.p.A. has calculated the value of the quota of the Atlante Fund and the Atlante II Fund at 30 June 2017.
The Fund is the largest investor in the non-performing loan market in Italy and among the biggest investors in the world, thus ensuring a strong Italian institutional presence in the industry.
The Fund’s involvement in the purchase of the non-performing loans is one of the determinant factors in the sale of the three banks to the Crédit Agricole Cariparma SpA.
The operation occurs through the Italian Recovery Fund and is one the key factors in the sale of the three banks to Crédit Agricole Cariparma SpA.
The operation was carried out through the Italian Recovery Fund and is one of the biggest ever performed in Europe.
Quaestio Capital SGR has further strengthened its management structure with the arrival of Ali Saad as analyst and Multi Asset manager in one of Quaestio’s main areas of activity.
The Quaestio Italian Growth Fund has subscribed €15 million as its portion of the share capital increase and now holds 26,6% of the shares of Industrie Saleri Italo S.p.A. (SIL).
Quaestio Capital SGR S.p.A. announces a new closing for its Quaestio Private Markets Funds – European Private Debt fund.
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