LONDON (Alliance News) - Chenavari Capital Solutions Ltd on Friday said it has invested EUR4.5 million in a first-loss exposure to a portfolio of small business loans extended by an unnamed Italian corporate and investment bank.
Chenavari, which does deals with banks looking to cut capital-intensive risk assets to meet tougher regulations since the financial crisis of 2007-09, said the portfolio is very granular and is primarily focused on northern Italy.
The deal is the second in a series from the bank, and forms an important strategic cornerstone of the bank's capital management strategy, said Chenavari.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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