Sienna Funding Managers has expanded into Italy and boosted its personal debt providing with the acquisition of Ver Capital.
Sienna is a pan-European asset supervisor with €34bn (£29.2bn) beneath administration that has a footprint masking eight international locations following the acquisition.
Milan-based Ver Capital focuses on European company debt, providing publicity to leveraged loans, high-yield bonds, personal debt, transition vitality and particular conditions.
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The mixed corporations will handle round €3bn in personal debt, delivering funding options to traders in France and Italy, with plans to develop their attain to a broader worldwide consumer base.
Sienna’s present personal debt enterprise has a observe file in asset-backed financing in actual belongings – encompassing actual property, infrastructure and public sector – and direct lending.
Following the acquisition, Ver Capital will add European high-yield, leverage loans and native personal debt experience to Sienna’s present providing.
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“By becoming a member of forces, we can have the dimensions wanted in each international locations to supply a very giant vary of services, and to profit French and Italian shoppers from our presence in Europe,” mentioned Sienna’s chief government Paul de Leusse.
“We’re additionally delighted to welcome [Ver Capital chief executive] Andrea Pescatori who will carry his community of Italian traders and his deep-rooted data of the native asset administration trade to our management workforce.”
Pescatori, mentioned: “We’re very excited to kick off the partnership with the Sienna Group that may mark a brand new chapter for Ver Capital, with a extra worldwide perspective and with the purpose to create a complete worldwide platform within the European credit score area with a strong expertise and observe information in our related sectors”.
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