LONDON, 17 December, 2021 – Metric Capital Partners LLP (“MCP”), announces the acquisition of a secured distress credit portfolio in the Spanish primary market.
MCP partnered with Albatris (together, the “Consortium”) on the transaction. Albatris is an alternative investment management firm, focusing on tailored credit investments with extensive experience in distressed debt and non-performing loans.
The portfolio consisted of more than 1.500 positions of well-diversified mortgage backed credits with a total outstanding balance of approximately €140 million. The Consortium has provided a bespoke solution in close partnership with the selling bank, tailored to optimize the credit portfolio and the selling banks’ capital structure and asset quality.
John Sinik, Managing Partner of MCP commented: “The acquisition demonstrates our ability to make accretive acquisitions through tailored solutions and together with Albatris we want to further capitalize on asset backed credit opportunities in this space across Europe.”
Arash Talebinejad, Managing Partner of Albatris commented: “The portfolio complements the existing investments made and demonstrates our continued commitment to the region as a trusted partner to the European banking infrastructure. Spain is one of our key markets and we remain committed to further investments.”
This is MCP’s seventh investment in Spain and its third portfolio acquisition in the country. To date MCP has invested approximately € 320 million in Spain.
Support in executing this deal for the Consortium was provided by Gescobro, Virgata, Garrigues, White & Case and Arendt.
About Metric Capital
Established in 2012, Metric Capital Partners (www.metric-capital.com) is a European private capital investment management firm headquartered in London with offices in Paris, Madrid, Munich, Stockholm and Luxembourg. The firm invests in structured opportunities across Europe. Metric Capital Partners has raised in excess of €2.6bn of capital over four funds since its inception.
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For further information please contact:
John Sinik, Managing Partner, Metric Capital Partners, Tel: +44 (0) 203 540 1550
Bjørn Tessiore, Partner, Metric Capital Partners, Tel: +44 203 540 1551
Miguel Lasso, Investment Director Spain, Metric Capital Partners, Tel: +34 (0) 626 06 24 80