Alantra advises Gardant on the sale of a secondary secured NPL portfolio to Veld Capital

ServiceCredit Transaction

Value €170 million

Jul 2022
Sell-side advisory
Value €170 million

Italy Alantra the global investment banking and asset management specialist, is pleased to announce that it has acted as sole financial advisor to Gardant S.p.A. (“Gardant”, a leading Italian servicing and investment management platform, on the sale of a Non-Performing Loans (“NPL”) secured portfolio with a Gross Book Value (“GBV”) of c.€170m to Veld Capital (“Veld”).The portfolio was comprised of credit exposures towards private individuals and SME borrowers almost entirely secured by 1st lien mortgages. The portfolio comes out from the c.€7.4bn Leviticus securitisation assisted by GACS where Gardant acts as master and special servicer of the securitisation.

Renato Limuti, Managing Director and leader of Alantra CPA’s Italian team commented: “We are particularly glad to have worked with Gardant on this ground-breaking transaction. The deal, closed at the end of a timely process, is the first sizable granular secured portfolio sale that comes out from a GACS structure, and represents a benchmark for the Italian NPL market. The selection of a sound and homogeneous transaction perimeter coupled – inter alia – with the identification of an optimal portfolio size, allowed the seller to achieve its target objectives in terms of recovery strategy optimisation, notwithstanding market volatility and growing macro concerns”.

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