Banca Marche completes €127m portfolio sale to CRC

Italy’s bank Banca Marche has completed the sale of a non performing credit portfolio to private money management company Christofferson, Robb & Company (CRC).

The deal has been completed through an ad-hoc investment vehicle, Gemini Srl, for an overall value of €127m.

CRC invests in transactions that transfer the credit risk of banks’ core clients to funds that CRC manages directly.

The transactions enable banks to improve their Core Tier 1 capital ratios while reducing the capital costs of making new loans and most investments are done in to small and medium-sized enterprise loans, prime residential mortgages and counterparty exposure in Germany, Austria, Italy, Belgium, the Netherlands, France and emerging markets.

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