Conning & Company, a subsidiary of Generali Investments, is close to acquiring a 77% of MGG Investment Group, a direct lending and private credit investor with more than 6 billion US Dollars of assets under management, from the company’s directors and McCourt Global that will both retain a minority (see here a previous post by BeBeez). The deal is worth 320 million with an earn-out that Generali will pay upon targets achievement. Kevin Griffin will keep his ceo and cio role of MGG. Ardea Partners International, UBS Securities, Schulte Roth & Zabel, and Cadwalader, Wickersham & Taft assisted MGG. Morgan, Lewis & Bockius advised Generali Investments.
Intrum Italy, a joint venture that Intrum Group (51%) and Intesa SanPaolo (49%) signed, acquired from Italian banks several portfolios of UTPs and NPLs with a total gross value of 1.2 billion euros (500 million of leasing facilities) (see here a previous post by BeBeez). UTP Italia, a vehicle that Intrum Italy launched with Sagitta and Zenith (both parth of Arrow Global), acquired a portfolio with a face value of 100 million. Enrico Risso is the ceo of Intrum Italy.
On 19 January, Sunday, Milan-listed illimity bank said that Andrea Clamer resigned as head of Specialised Credit and that Enrico Fagioli Marzocchi and Giovanni Lombardi will be the firm’s deputy ceos (see here a previous post by BeBeez).
