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Namira, the Severgnini-Scaroni axis

24 April, Milano Finanza

There is a new alliance in the real estate management sector that bets on distressed assets: the one between Paolo Scaroni and Carlo Severgnini. The new partnership decided to bet on the potential of Namira Sgr, the Milan-based company guided by the Ceo Eugenio Radice Fossati (owning 39.5% of the capital), taking over 29.67% of the company and becoming in this way the second largest partner of the asset manager. The investment, whose amount was not disclosed, was carried out by Severgnini Family Office. This is one of the many businesses of the investment holding Finsev, ranging from Camperio sim to catering (with Camperio Basement). Among the Namira partners, there is also the Enel and Eni Ceo, as well as vice president of the merchant bank Rothschild and consultant for the American fund Elliott and of the Chinese management of the new Milan FC (on which Elliott holds a security for 100%). More in detail, Scaroni holds 14.83% of the asset manager, consolidating in this way his partnership with Carlo Severgnini. Following the investment, Severgnini left the role of president of the Namira Board of Auditors to join the Board of Directors headed by Paolo Alessandro Bonazzi, a minority shareholder of the real estate management company.

According to the 2016 financial statement, Namira manages seven investment funds for a total value of 473 million. Its portfolio is diversified between retail, commercial and residential properties located throughout Italy. Its business expansion plan implies also the diversification of the offer through the launch last year of three new funds: one dedicated to banks, one to institutions, and one to public agencies. This brought to the creation of the fund Namira Distressed I, the vehicle dedicated the domestic banks and focused on the management of the real estate assets put as a security of non-performing loans. After all, NPL is one of the most active, profitable and dynamic sectors at the moment in Italy. The second option regards the acquisition of a significant real estate portfolio dedicated to national and international institutional investors seeking long-term returns. Finally, the third vehicle aims at the revaluation of the real estate portfolio of the Municipality of Civitavecchia through the constitution of a public contribution fund while looking for private investors in the meanwhile. Namira SGR reported in 2016 commission incomes of 2.25 million and profits for nearly 78 thousand euro.

Source: Milano Finanza

Translator: Cristina Ambrosi