Investcorp closes $375m for second Italian NPL fund

Elena Ranguelova
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Updated 01 June 2020

Investcorp closes $375m for second Italian NPL fund

Investcorp, a global provider and manager of alternative investment products, has announced the fully subscribed final closing of approximately 340 million euros ($375 million) in commitments for its second vintage Italian Distressed Loan Fund II (Italian NPL Fund II), which is exclusively advised by Eidos Partners, a Milan-based advisory firm and credit specialist. To date, more than 460 million euros in assets have been allocated toward Investcorp and Eidos Partners’ Italian nonperforming loans (NPLs) strategy.

Italian NPL Fund II invests in non‐performing loans secured by residential and commercial real estate in Italy. The fund represents Investcorp’s ninth Special Opportunity Portfolio (SOP). In 2011, Investcorp launched its first SOP with the aim of taking advantage of opportunities arising from market dislocations and structural shifts.

Timothy Mattar, global head of distribution at Investcorp, 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.”

Elena Ranguelova, portfolio strategist, said: “There are compelling opportunities to acquire attractive loans at significant discounts in the Italian NPL market. We believe that our latest NPL fund will help fulfill an important market need and we are committed to leveraging our expertise and resources to create value and help Italian consumers and businesses during this time. We appreciate the support from our existing limited partners and new investors, and we look forward to continuing to build upon our partnership with Eidos.”


STC powers G20 Summit media center with 5G network

Updated 24 November 2020

STC powers G20 Summit media center with 5G network

As part of its partnership with the G20 Saudi Secretariat, STC Group, the digital enabler of the Kingdom’s agenda for the G20 Leaders’ Summit 2020, provided its 5G services to the media center responsible for covering the summit activities. In addition, the Saudi telecom operator supported all sites dedicated for hosting the summit’s virtual meetings, with technologies that enabled digital services throughout all the G20 Summit meetings held under the presidency of the Kingdom.

At the International Media Center, STC set up the “This is Saudi Arabia” platform. Among its aims was the rediscovery of Saudi Arabia through a new perspective, highlighting tourist sites and national heritage in a technologically innovative manner and providing media professionals covering the summit with information on the Kingdom’s touristic offerings.

Majid Al-Qasabi, minister of commerce and investment and acting minister of media, visited STC’s pavilion at the International Media Center, where he was briefed on the telecom giant’s role in supporting the facility and providing technical services to participating media professionals.

Dr. Fahd Al-Tunsi, secretary-general of the G20 Saudi Secretariat, said that he valued the significant role and efforts exerted by the Ministry of Communications and Information Technology and its partner — the STC Group — during the Kingdom’s G20 presidency year, adding that such efforts have led to positive results for all stakeholders.  

The company provided more than 11 high-speed sites, covering all areas with wireless networks to serve the digital requirements of the virtual meetings and conferences. In addition, STC provided its logistic and technical services required to ensure the success of this event.   

STC Group CEO Nasser Sulaiman Al-Nasser said: “As a digital enabler, we take pride in our cooperation with the G20 Saudi presidency at this important time for the Kingdom, and we look forward to providing all services to enable realizing the objectives of this cooperation during the Saudi G20 presidency year.”

He added that the success of the virtual summit in the Kingdom is “an incentive for us in the telecommunications and information technology sector to move forward in the digital transformation journey of the Kingdom.”

“We are proud of the achievements of our country, and we are keen to implement our strategy in supporting investment infrastructure, as well as offering all smart solutions and all capabilities to keep pace with the national requirements and new global developments,” Al-Nasser added.