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Phoenix AM gets stronger in the NPLs and UTP sector

16 April, Azienda Banca

Phoenix Asset Management will further specialise in the management of NPL and UTP portfolios, entering Oxalis Holding as institutional investor with investment funds managed by Pimco and Anacap Financial Europe.

The Pimco and Anacap funds

With this operation, the founding members have kept 40% of the capital, while PC3 and Oxalis had 30% minority quota each. However, Phoenix AM will continue operating as independent special servicing platform under the current management. The two funds will assist Phoenix in the organization and management of the NPL (secured and unsecured) and UTP portfolios through new alliances and strategies, such as the extra-judicial management and Reoco.

A 9 billion gross exposure

Phoenix will be focused on the holdings of a high legal complexity and largely backed by real estate. In the meanwhile, it will continue providing due diligence, consultancy and pricing of credit portfolios services, along with securitisation solutions. The company will continue providing its services to banks and financial investors, expanding also to international investors. Phoenix currently manages a total gross exposure of approximately 9 billion euro distributed among 11 NPL and UTP portfolios.

Source: Azienda Banca

Translator: Cristina Ambrosi

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