Sankaty Advisors acquisition of Bankia SME loan portfolio

Overview:

• Sankaty Advisors—an independently-managed credit affiliate of Bain Capital—has acquired a portfolio of secured loans from BFA-Bankia Group for €560 million.
• The portfolio is made up of defaulted bilateral and syndicated Spanish loans to real estate developers and small-to-medium enterprises, secured primarily on various real estate collateral.
• This transaction aims to advance the company's strategy of investing in idiosyncratic portfolios across Europe.
• Copernicus, a Spanish financial services company, assisted Sankaty in transactional due diligence and acted as the servicer for the portfolio post-acquisition.

Adam Majeed - Regional editor