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Investcorp closes EUR 340m investment in Italian NPL Fund II

Investcorp closes EUR 340m investment in Italian NPL Fund II
Italian NPL Fund II invests in mortgage-backed non-performing loans
Investcorp
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Mubasher: Investcorp, listed on Bahrain Bourse, on Wednesday the final closure of about EUR 340 million in commitments for its second vintage Italian Distressed Loan Fund II (Italian NPL Fund II), advised by the Italian financial advisory company Eidos Partners.

Above EUR 460 million worth of assets have been allocated towards Investcorp and Eidos Partners’ Italian non-performing loan (NPL) strategy, according to a statement on Wednesday.

Italian NPL Fund II, which invests in mortgage-backed non-performing loans in Italy, represents Investcorp’s ninth Special Opportunity Portfolio (SOP). Investcorp’s first SOP was launched in 2011.

The global head of distribution at Investcorp, Timothy Mattar, said, “Several years ago we identified that many banks across Italy would need to reduce their credit exposure and strengthen their balance sheets, creating opportunities for investors with strong underwriting expertise. We know the Italian NPL market well and we have further strengthened our capabilities through partnerships with dedicated local expertise in the Italian credit market.”