H.I.G. Capital said Wednesday that it invested through an Italian securitization in a portfolio of non-performing loans originated by Group Cassa di Risparmio di Cesena. Financial terms of the deal, which closed Jan. 29, weren’t announced. The portfolio comprises 52 non-performing loans backed by a mixture of residential and commercial real estate, mainly in the regions of Emilia-Romagna and Marche in Northern Italy. The transaction is H.I.G.’s fourteenth real estate investment in Europe since 2013 and its second NPL investment in Italy.
LONDON–(BUSINESS WIRE)–H.I.G. Capital announced its investment through an Italian securitization in a portfolio of non-performing loans originated by Group Cassa di Risparmio di Cesena. The portfolio comprises 52 non-performing loans backed by a mixture of residential and commercial real estate, predominantly in the regions of Emilia-Romagna and Marche in Northern Italy. The transaction was agreed on 30thDecember, 2014 and completed on 29 January, 2015.
Ahmed Hamdani, Managing Director in the UK at H.I.G. Capital commented, “This marks the second NPL investment completed by H.I.G. in Italy in the last six months. This underscores our continued focus on the Italian real estate market. We are excited about the opportunities available in Italy and pleased with our ongoing collaboration with Eidos Partners.”
This is H.I.G. Capital’s 14th real estate investment in Europe since the beginning of 2013. H.I.G. has assembled a sizeable portfolio of Real Estate assets in Europe and continues to see significant opportunities in the sector, especially in its target market of small/midcap opportunities with a meaningful value-added component. H.I.G. Capital has a significant presence in Italy, led by Raffaele Legnani, who heads its Milan office.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $17 billion of equity capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as on the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. Other H.I.G. funds invest in various real assets, including real estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.