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Home DISTRESSED ASSETS

Italy’s distressed assets and NPEs weekly round-up. News from Banca Macerata, Cherry Bank, Gamalife, Apax Partners, and more

Salvatore Brunoby Salvatore Bruno
October 22, 2025
Reading Time: 2 mins read
in DISTRESSED ASSETS, ITALY, PRIVATE EQUITY, REAL ESTATE
Italy’s distressed assets and NPEs weekly round-up. News from Cherry Bank, Banca Popolare Valconca, doValue, Fire Group, Effe Legal, and more

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Banca Macerata (fka Banca della Provincia di Macerata), a firm of which NPEs investor Cherry bank has a 9.6% stake, sold less than 10% to Gamalife, a Portuguese insurer that belongs to Apax Partners (see here a previous post by BeBeez). Gamalife subscribed to a capital increase of Banca Macerata with which also subscribed a bancassurance agreement.

UK – Italian law firm iLS London – Milan joined Gianni&Origoni (G&O) which expanded its Banking & Finance team (see here a previous post by BeBeez). Norman Pepe, iLS founder and an experienced structured finance and NPEs professional, will be London-based G&O equity partner from 1 January 2026 while Fabrizio Occhipinti, Federico De Zan, Luca Marzolla, and Allegra Batacchi Greco will remain in Milan. Pepe took the bar in Italy and is a Solicitor of England and Wales. Prior to founding iLS in 2018, he worked in London and Milan for Gitti and Partners, Riolo Calderaro Crisostomo e Associati, Paul Hastings, and BonelliErede. Giuseppe De Simone is G&O co-managing partner and co-head of the Banking & Finance department.

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