Alantra advises York Capital on the disposal of a €400m unsecured NPL portfolio to Hoist

Jun 2021

Sell-side advisory

Value €400 million

Milan – Alantra, the global investment banking and asset management specialist, has advised York Capital Management (“York Capital” or “the Company”), a global alternative investment firm, on the placement of a €400m mixed secondary unsecured NPL portfolio to Hoist Finance (“Hoist” or “The Group”).

Project Grey is a mixed secondary unsecured NPL portfolio, comprised of credit exposures towards private individuals and SME borrowers, with approximately 37,000 positions for a total gross book value of over €400m, a part of which are secured by promissory notes. The transaction was coordinated on the seller side by Alantra, who acted as financial advisor to York Capital. Project Grey will enable the Company to pursue other strategic growth projects in their portfolio.

York Capital is a global alternative investment firm founded in 1991, located primarily in New York, London, and Hong Kong. The Company is focused on generating consistent, risk adjusted returns across business and market cycles, leveraging a global research platform and employing a multi-strategy, event-driven investment approach that emphasizes the fundamental analysis of industries and businesses.

Hoist Finance is a Swedish bank operating in 11 countries, with more than 1,600 employees, having experienced a strong, profitable growth for the past years. With over 20 years of experience, they are one of the leading debt management companies in Europe. The Group has operated under the Hoist Finance brand since 2012 and was listed on Nasdaq Stockholm in 2015.

Carlo Savani, Director at Alantra Credit Portfolio Advisory commented: “This transaction confirms Alantra’s privileged position as the leading advisor in supporting Investors in NPL transactions. We are pleased to have developed a strong relationship with both, York Capital and Hoist Finance, accomplished through an interesting and fruitful negotiation.”