Bain Capital Credit Acquires Hypo Alpe Adria and Strengthens its Presence in the Italian NPLS Sector

Bain Capital Credit’s special situations strategy became “Bain Capital Special Situations” in Fall 2022.

MILAN, July 23, 2020 - Bain Capital Credit LP (“Bain Capital Credit”) announced today that it has completed the acquisition of former Hypo Alpe Adria Bank from the Austrian government, which was the owner through the vehicle HBI-Bundesholding AG. The acquisition strengthens Bain Capital Credit LP‘s strategic presence in the Italian NPL sector.

In the acquisition framework, the Friuli-based company headquartered in Tavagnacco will change both name and vocation to deal with the servicing management of third parties’ NPL portfolios, becoming Julia Portfolio Solutions S.p.A. (“Julia Portfolio Solutions”). Previously, the firm was operating in the banking sector, but over recent years it has shifted its focus to credit and real estate portfolios’ management, becoming an authorized financial intermediary pursuant to Art. 106 TUB. 

Julia Portfolio Solutions’ senior management will be led by Alfredo Balzotti as Chairman and Federico Di Berardino as General Manager. Mr. Balzotti has over 25 years of experience in the finance, real estate management and distressed debt management sectors. He has been working in the NPL area for over 20 years, first in Archon Group Italy and then in the Deutsche Bank Group, and lastly, after a period within the Hypo Group, he holds the position of Managing Director and General Manager of Aquileia Capital Services S.r.l. (“ACS”), the Italian NPL platform of Bain Capital Credit. Mr. Di Berardino, admitted to the bar, has been working in the legal and credit field of the banking sector for 20 years. After working in banks of Intesa, Capitalia, UniCredit and, most recently, in Banca Valsabbina, he joined Hypo Alpe Adria Bank at the end of 2013, where for the last four years he coordinated the company's overall activities in all areas of credit, as well as in legal and regulatory affairs, most recently as Deputy General Manager.

With approximately 75 employees and an initial portfolio under management of about €400 million, Julia Portfolio Solutions will be working in the NPL servicing area for the corporate sector, with a main focus on real estate leasing; the new company will operate in a complementary manner to ACS’ activities, which will serve as Bain Capital Credit’s a captive platform in Italy.

“Julia Portfolio Solutions joins the real estate portfolio servicing’s universe, adding to this new area the transversal skills and know-how acquired over many years of experience in the sector. Being part of an important firm such as that of Bain Capital Credit is a key opportunity for Julia Portfolio Solutions, as it provides access to world-class network and expertise, significantly consolidating the company’s role in the Italian NPL servicing sector,” Alfredo Balzotti, Chairman and Federico Di Berardino, General Manager of Julia Portfolio Solutions, commented. 

RCCD and Linklaters were the legal advisors for the deal and closing; Mediobanca acted as financial advisor for the transaction. EY acted as financial advisor for today’s Julia Portfolio Solutions. Bain Capital Credit was supported by ACS, a servicer that is consolidating its leadership role in the analysis and management of non-performing loans. Pirola Pennuto Zei & Associati was tax advisor, while AgFe, Deloitte and EY were Bain Capital Credit’s financial advisors.