Welcome to Phoenix Asset Management S.p.A.
Phoenix Asset Management (“PAM”) is an Italian 115 registered Special Servicer and Asset Manager, predominantly focused on the management of secured and unsecured non-performing loan (NPL) as well as UTP portfolios. PAM is a workout specialist, focused on complex legal and extrajudicial resolution strategies across problematic portfolios. The Company is providing pre and post-acquisition support to local and International investors purchasing Italian loan portfolios, as well as certain ancillary functions including in-house legal support, Auction Facilitation & Reoco management, single name DPO negotiations, sourcing and new purchases, and specific real-estate linked project financing and debt restructuring transactions.
PAM Assets under Management
PAM currently has €9.5bln of GBV under management (across 11 different portfolios). Circa €8.5bln is managed internally and €1bln under master servicing/oversight role of third party external Servicers; PAM has also conducted diligence for NPL acquisitions in excess of €10bln of GBV.
PAM ready for 2018
2018 objective to deliver sophisticated and structured workout solutions for problematic portfolios (NPLs and UTPs) on behalf of mid-tier banks in need of a specialist partner. Tailored solutions may be based on analysis, management, deleveraging and restructuring of problematic assets on balance sheet, coupled to fresh capital or long-term partnerships where required.
In the context of a continuing ECB spotlight on Italian banks, coupled with progressive legislative and accounting reforms, we believe that banks and investors require a specialist workout proposition tailored to a diverse set of NPL and UTP portfolios. We recognize that solutions may be heterogenous – involving analysis, management, cure, deleveraging, or even additional capital to fuel restructuring plans or complex RE initiatives – in order to unlock the embedded value in the portfolios and, where appropriate in the underlying collateral. (Steve Lennon, Founder & CIO)