Italian private equity firm Clessidra sgr, controlled by Italmobiliare, the investment holding of the Pesenti family, is looking at the non performing exposure business.
“Clessidra is still focused on its core business which is private equty, however we are starting at looking at corporate restructuring and specifically at the unlikely-to-pay loan market”, executive vice chairman Federico Ghizzoni said yesterday at a meeting in Milan organized by Fivelex law firm on the Italian NPE market. Mr. Ghizzoni knows very well how Italian banks are facing both the NPLs and the UTPs problems as he has been for years Unicredit’s ceo.
Mr. Ghizzoni added that “the UTPs market is quite interesting to approach as you do not need just to recover credits, ma manage those credits. Finally you must not forget that the new international supervisory rules  ask that banks cover 100% of each unsecured NPE in two years. That’s why I think banks will be looking at good counterparts on a continuative basis”.
The Fivelex meeting also saw as speakers Francesco Canzonieri (Mediobanca), Enrico Fagioli (Spaxs Illimity), Roberto Saviane (DeA Capital Alternative Funds) and Salvatore Maccarone, chairman of the Italian Deposit Guarantee fund (Fondo interbancario di tutela dei depositi) and Fivelex of counsel.
Mr. Maccarone stressed that in his view the European Commission should not see the Fund as a public subject which can not intervene in solving banks problems relative to NPEs. The Fund is independent and privately financed by the Italian banks”.
