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H.I.G. Capital Announces Purchase of EUR495m Romanian Loan Portfolio
LONDON – July 28, 2014 – Bayside Capital, a credit affiliate of H.I.G. Capital, together with AnaCap Financial Partners and Deutsche Bank, announced the purchase through Romanian-registered companies of a portfolio of EUR495m of non-performing and sub-performing loans from Volksbank Romania. The portfolio comprising over 3,500 loans is backed by a mix of primarily residential and commercial real estate.
The transaction is the largest of its kind in Romania to-date, and came about as a result of the ongoing pressure on European financial institutions to restructure and divest assets in order to strengthen balance sheets and comply with new capital requirements.
Ahmed Hamdani, Managing Director in the UK at Bayside Capital said, “We are excited about the opportunities available in Continental Europe and pleased to be partnering with AnaCap Financial Partners and Deutsche Bank on this investment. The purchase underlines Bayside Capital’s capability to seamlessly execute transactions in a complex asset class requiring deep understanding of consumer and corporate debt in local markets. This transaction demonstrates H.I.G.’s commitment to the Continental Europe market and to growing its European Real Estate and NPL business further.”
This is H.I.G. Capital's 11th real estate investment in Europe since the start of 2013. H.I.G. has assembled a sizeable portfolio of Real Estate assets in Europe and continues to see significant opportunities in that sector, especially in its target market of small/midcap opportunities with a meaningful value-added component.
About Bayside Capital
Bayside Capital is an affiliate of H.I.G. Capital, a leading global private investment firm with more than $15 billion of equity capital under management. With over $4.5 billion of committed capital, Bayside is focused on providing capital solutions to address complex situations within short timeframes. Through improved access to capital or facilitating balance sheet realignments, Bayside can help support future strategies and expansion plans. Bayside has the ability to provide capital through a broad range of securities including asset-based and cash flow senior and subordinated debt, equity, debtor-in-possession facilities, and special situation loans. Bayside has the experience and resources to help companies quickly resume growth initiatives and improve their strategic position.
For more information, please refer to the Bayside Capital website at www.bayside.com.