Download here the BeBeez Private Debt Report 2024 available for the subscribers to BeBeez News Premium and BeBeez Private Data.
Sources said to BeBeez that HPS Investment Partners (part of BlackRock) and Arcmont Asset Management subscribed to the senior bond of 25 million eurosof Dainese, Carlyle’s Italian iconic brand of special sportswear with debts in the region of 300 million (see here a previous post by BeBeez). The company will invest such resources in its equity and the improvement of its financial flexibility. Press reports said that Carlyle sold Dainese for one euro to HPS and Arcmont Asset Management. However, the sources did not confirm such news. In 2022, HPS and Arcmont financed Carlyle’s acquisition of Dainese from Lino Dainese and Investcorp on the ground of an enterprise value of 630 million through the issuance of 285 million worth bonds. Investcorp purchased 80% of the company in 2014 for an ev of 130 million. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Carlyle, HPS Investment Partners, Arcmont Asset Management and their portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager.
Italian-Japanese automotive company Marelli Holdings, a portfolio company of KKR since 2018, could sell to Strategic Value Partners, Deutsche Bank, MBK Partners, Fortress Investment Group, Polus Capital Management, and its other creditors (see here a previous post by BeBeez). The company also said it attracted a 130 million US Dollars tranche of the 1.1 billion Debtor In Possession (DIP) financing facility and that on 31 July, Thursday, labour unions and executive will meet at the Italian Mimit for asking the Italian Government to hold a guarantor role towards the new ownership with the Golden Power. David Slump is the ceo of Marelli which retained Kirkland & Ellis, PJT Partners and Alvarez & Marsal.
Collextion Services, part of Gruppo Collextion, will manage a portfolio of NPEs with a face value of 500 million euros that Officine CST originated and started managing in 2018 and that Pollen Street Capital, a London’s hedge fund that invests in asset backed finance, later acquired (see here a previous post by BeBeez). Antonio Borraccino is the founder of Gruppo Collextion.
Officine CST, a Cerberus Capital Management’s Italian investor in receivables from the public administration that Roberto Nicastro heads, retained Andersen for acquiring the revolving securitization junior notes of Adalis SPV which issued partly paid items (see here a previous post by BeBeez). The SPV purchased Pomi Car‘s credits with the Public Administration. Paolo Gesa is the ceo of CST. Gianpiero Oddone is the founder of Cerberus.
Milan Court revoked in advance the receivership for Banca Progetto, a portfolio company of Oaktree Capital Management that Italian authorities accused of having implemented poor anti money laundering policies (see here a previous post by BeBeez). Centerbridge Partners reportedly suspended the bank’s acquisition. Banca d’Italia appointed Lodovico Mazzolin and Livia Casale as commissioners for Banca Progetto which could have losses of 91 million and further 24 million euros of NPEs.
