Athens, Greece – January 31, 2020
Leading global professional services firm Alvarez & Marsal (A&M) and Copernicus, an independent global Loan & REO Asset Management platform, announce that they have signed an agreement by which Copernicus will acquire a majority stake (75 percent) in A&M’s regulated loan servicing company, Independent Portfolio Management S.M.S.A.S.R.L.C.F (IPM) (the “Transaction”), in Athens. The Transaction is subject to regulatory approval and customary conditions. Post-completion of the Transaction, A&M will retain a 25 percent stake.
Established in 2017, IPM is an independent business loans servicing company in Greece that offers lenders end-to-end servicing solutions for loans to small and medium sized enterprises (SME) and to larger corporate borrowers.
Peter A. Briggs, Global Practice Leader of A&M’s Financial Industry Advisory Services business, said,
“Copernicus shares our vision and strategy for the NPE market. This Transaction further strengthens IPM’s offering and enhances its geographic footprint with Copernicus’ Madrid, Milan and Lisbon offices. Additionally, it can leverage A&M’s restructuring and operational expertise to maximize value for IPM’s clients.”
Jose Néstola, Copernicus’ Founder and CEO, said,
“We look forward to building upon the IPM platform that A&M has developed and to offering end-to-end servicing solutions to our clients for loans to corporate and small and medium enterprises (SME). Given the evolving Greek market, adding value to our client’s real estate assets through proactive asset and property management is key. IPM enhances the opportunities we can provide to our clients and the market at large.”
Bernitsas Law Firm is acting as legal advisor to A&M, and Zepos & Yannopoulos to Copernicus.
About Alvarez & Marsal
Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) when conventional approaches are not enough to drive change and achieve results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services.
With over 4,000 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, help organizations transform operations, catapult growth and accelerate results through decisive action. Comprised of experienced operators, world-class consultants, former regulators and industry authorities, A&M leverages its restructuring heritage to turn change into a strategic business asset, manage risk and unlock value at every stage of growth.To learn more, visit: Alvarez & Marsal. Follow A&M on LinkedIn, Twitter and Facebook.
Copernicus is an independent Loan & REO Asset Management platform that currently operates in Spain, Italy and Portugal. Established in Madrid in 2013, it specializes in Corporate and SME secured loans, residential mortgages and REO portfolios.
Copernicus, with its proprietary technological platform, provides an end-to-end service to investors for the acquisition and management of Secured loans & REOs investment opportunities.
Copernicus’ advisory team has underwritten over 140 secured NPL and REO transactions in Spain, Portugal and Italy over the last five years. Copernicus’ Real Estate Asset Management delivers creative and value-added solutions to our clients to maximise value for Singular and Granular assets.
Copernicus has over 220 employees and has managed more than €9.3bn of distressed assets.
About IPM | Independent Portfolio Management S.M.S.A.S.R.L.C.F
Independent Portfolio Management S.M.S.A.S.R.L.C.F (IPM) is an independent business loan servicer in Greece focusing on small and medium sized enterprises (SME) and corporates. IPM is licensed and regulated by the Bank of Greece.
IPM’s comprehensive, integrated offering focuses on portfolio strategy and analytics, claims management and real estate, and leverages A&M’s global network of industry and corporate restructuring experts. Banks and funds seeking complete end-to-end servicing for SMEs and corporates turn to IPM for solutions.