AnaCap has announced the signing of an agreement to acquire a portfolio of Italian performing and non-performing corporate secured loans from Barclays.
The portfolio, which has a reported gross book value of €177m, consists of loans to primarily small and mid-sized corporates secured against real estate located mostly in the north of Italy.
The agreement follows AnaCap’s Credit Funds’ acquisition last year of three portfolios of unsecured and secured NPLs from GE, RBS and UniCredit, totalling close to €2.5bn.
Last month AnaCap private equity funds also announced the signing of an agreement with Barclays to acquire its French retail banking operations, which would be their sixth banking platform in Europe.
Jacqueline Li of AnaCap financial Partners, said: “AnaCap has leveraged its extensive track record in Italy, and more broadly across Europe, in addressing complex portfolios of performing and non-performing debt, highly varied in both asset type and servicing requirements, to provide a solution for a vendor well known to AnaCap.”
The portfolio represents Barclay’s residual non-core corporate exposure in Italy, following the disposal of its Italian retail business to CheBanca last year. Also Barclays’ residual mortage portfolio and other non-core retail and wealth loans in Italy will be a part of Barclays non-core, with the intention to exit or run down over time.