Alantra, a global banking and asset management firm, has acquired KMPG UK’s Portfolio Solutions Group business, based in London, which advises financial institutions in relation to non-performing and non-core banking assets.
The joint team will be called Alantra Corporate Portfolio Advisory (CPA). Alantra’s existing portfolio business is headquartered in Madrid and consists of 40 professionals.
According to the European Central Bank, financial institutions in continental Europe had a non-performing loans exposure worth over €1 trillion ($1,165 trillion) on their books at the end of 2017.
KPMG and Alantra will be collaborating going forward in the execution of the existing engagements and in future business opportunities in the UK.
Alantra’s executive chairman Santiago Eguidazu said: “This addition will consolidate Alantra as a full-fledged and innovative advisor to banking institutions and global funds.”
Alantra CPA’s managing partner Joel Grau commented: “We believe this transaction is a key milestone in our strategic plan of building an international business that is able to provide an independent and credible service in the credit transactions market.”
The closing of the transaction is only subject to the application of Transfer of Undertakings (Protection of Employment) Regulations 1981, expected in early august.
By Mishelle Thurai
