Keystone, a fund that Kryalos manages for the acquisition of real estate – backed unlikely-to-pay (UTP) credits, announced the purchase of a portfolio of NPEs with a gross value of 220 million euros (see here a previous post by BeBeez). After this transaction, Keystone reached a total collection of more than 770 million, involving twenty-two Italian and international seller banks. Kryalos has 12.5 billion of assets under management. Kryalos retained EY Studio Legale e Tributario, Molinari Agostinelli StudioLegale, Bird & Bird, and Rina Prime Value Services. Alberto Lupi is a senior managing director Fund & Credit Management at Kryalos.
Clessidra Capital Credit acquired Iscom, active in the design and construction of metal roofing for large buildings, from the Menegoli family without disclosing the amount of the deal (see here a previous post by BeBeez). The company thus completed its turnaround plan, which started in 2021 that Clessidra Restructuring Fund, illimity, Banco BPM, Credem, and Hypo Tirol Bank accepted. Clessidra became Iscom’s main creditor after having acquired the majority of Iscom’s banking liabilities. Sources said to BeBeez that Iscom owed to Clessidra 13 million euros out of a total financial debt of 25 million. By 2023, the outstanding debt dropped to 18 million. Iscom concluded the relaunch with the spin-off of some non-core activities and the sale of Società agricola Poggio S. Cecilia to Clessidra and the simultaneous refinancing of debt. Iscom has revenues in the region of 25.3 million, ebitda of nearly 2.6 million, and net financial debt of more than 11.2 million.
Gardant Investor, the credit fund management of the eponymous group, is launching Caesar, a credit management fund that already raised 100 million euros from institutional investors and provided a loan to a leading real estate group (see here a previous post by BeBeez). In fact, Caesar’s mission is to provide financing to performing companies and real estate projects, as well as refinancing or loans to support debt restructuring plans of companies in financial stress but from with solid fundamentals, having real estate as their underlying. Guido Lombardo is the chief investment officer and serves on the board of directors of Gardant Investor.
