Press Release
BBCMGlobal announces the closing a series of significant transactions that further strengthen its position in the domestic market during 2024.
BCM was selected by a group of local and international institutional investors to manage 3 new portfolios of NPL (Non-Performing Loans) and UTP (Unlikely to Pay) mortgage loans, sold in 3 different transactions over the year. The sellers comprising multiple leading Italian banks, for a total of approximately €100 million in gross book value.
These 3 new acquisitions were made through a newly set-up securitization vehicle by certain leading international institutional investors including the Luxembourg fund “Italy Distressed Fund SCA SICAV”, whose portfolio is managed, by way of delegation from the fund’s AIFM, by the Italian investment firm Replica SIM S.p.A. and the Swedish Albatris in a joint venture with U.S. based Three Line Capital.
This partnership will continue to focus and remain highly active pursuing opportunities in real estate backed NPLs and UTPs and continue to execute on its investment program in secured NPEs (Non-Performing Exposures) in the short-medium term.
BCMGlobal has been appointed as Special Servicer for the securitisation, with 130 Servicing as Master Servicer, Corporate Servicer and Calculation Agent.
Chiomenti provided legal assistance to the investors and Replica SIM in relation to the transaction and to the contractual, regulatory and tax aspects.
Roberto Zambotti, Managing Director of BCMGlobal Italy said:
“We are proud of the trust our Clients have placed in us. This confirms the effectiveness of our unique value proposition in the Italian market: our independence and highly skilled team allow us to deliver exceptional service and results for investors interested in the Italian NPE market.”
Dario Negri, CEO of Replica SIM commented:
“In 2024, Replica SIM expanded its range of investment solutions by establishing a new team dedicated to managing alternative investments, led by Alessandro Avagliano and Corrado Mazza, and assuming the portfolio management of a new fund, Italy Distressed Fund SCA SICAV-RAIF.
The Italy Distressed Fund follows an investment strategy mainly focused on securitisation notes, specifically Asset-Backed Securities (ABS), with a geographical focus on Italy.
The fund has a fundraising target of €35 million, total already raised and partially invested upon the launch of the project.
The fund has already involved and continues to involve multiple European and national investors interested in the initiative. Currently, Replica is working on the delegated management of a new alternative fund with a target fundraising of approximately €100 million.”
About BCMGlobal
BCMGlobal is a leading European independent loan and asset management service provider. We have multijurisdictional expertise with operations in Italy, Ireland, the UK, the Netherlands and Spain.
We deliver a range of core services including loan management, bank outsourcing, origination, and real estate asset management. We support our clients at all stages of the debt life cycle from origination and advisory services through to asset management across multiple debt classes: performing, non-performing (NPL) and unlikely-to-pay (UTP) loans.
In Italy, BCMGlobal provides to its broad client base with expert services throughout the entire credit lifecycle covering a wide range of asset classes including unsecured and consumer loans, residential mortgages, corporate and SME secured loans and REO portfolios. BCMGlobal is one of the few special servicers that has developed an in-house real estate team entirely dedicated to the management of real estate assets securing NPL and UTP loans, with a strong track-record in real estate development projects repossessed through REOCOs (Real Estate Operating Company).
For more information, visit www.bcmglobal.com/countries/italy
About Replica SIM
Replica SIM (www.replicasim.com) is an Italian investment firm with specific expertise in investment portfolio management services and, specifically, in fixed income which its Industry-leading team with decades of experience has achieved a strong performance track record.
Replica SIM provides investment portfolio management to EU-domiciled funds reserved to institutional and professional investors, with investment policy focused on bond, equity, multi-strategy and other securities. A team of 30 experienced portfolio managers has generated a consistent and superior track record over multiple years on a risk-adjusted basis.
The partners commit a significant share of the capital to the funds managed by Replica demonstrating a strong alignment of interests with our institutional investors.
