LONDON (Reuters) - Bain Capital Credit said on Friday it had bought a 385 million euro portfolio of non-performing loans from Banca Mediocredito del Friuli Venezia Giulia [MDFVG.UL].
The deal is its first standalone deal in Italy since it bought Aquileia Capital Services in Feb 2017, which will service the portfolio, it said in a statement.
The portfolio, which has a par value of 385 million euros, is made up of defaulted bilateral and syndicated loans, mainly secured by industrial, residential and commercial real estate assets, Bain said, without giving further financial details.
“Italy is one of the most attractive and active NPL markets in Europe and we are ready to seize more opportunities,” said Fabio Longo, a Managing Director and Head of Bain Capital Credit’s European non-performing loan and real estate business.
Reporting by Simon Jessop; editing by Carolyn Cohn