Alantra advises AMCO on Italy’s largest re-performing mortgage exposure transaction

Feb 2025

Sell-side advisory

Value €400mn

Milan, London –Alantra has acted as exclusive financial advisor to AMCO-Asset Management Company S.p.A. on the sale of a €400 million re-performing mortgage portfolio. The portfolio, comprising retail mortgages, was acquired by funds managed by AB CarVal, an established global alternative investment manager, following a competitive process that attracted interest from multiple market participants.

The transaction is part of AMCO’s 2024-2028 Strategic Plan and its commitment to financial sustainability, contributing to the development of an efficient re-performing residential mortgage market in Italy. The sale supports AMCO’s broader RE.Perform initiative, an innovative project aimed at supporting retail residential mortgage clients in their return to the “performing” status, aiming at households’ financial recovery and access to new credit.

Renato Limuti, Managing Director at Alantra, said: “We are pleased to have advised AMCO on this strategic transaction, which marks a unique milestone in Italy’s re-performing mortgage market, not only due to its size but also its innovative character. Our team, comprised of members of the Milan and London offices, leveraged their deep expertise in structured credit and real estate markets to ensure seamless execution through meticulous due diligence and investor engagement. The high level of interest from investors highlights the attractiveness of this asset class and the growing momentum in the sector.”

This deal further underscores Alantra’s commitment to supporting financial institutions in optimizing their portfolios for sustainable growth. It builds on numerous deals in the FIG space the team has advised on recently, such as Helaba’s credit risk sharing transaction of c. €2.3bn or Banco BPM’s structured sale of non-instrumental real estate assets for €295mn.