Albatris Acquires Portuguese Asset Manager from doValue Group
Albatris announces the acquisition of doValue Portugal, a specialized asset manager in the Iberian market from doValue [DOV:MIL].
Albatris expands its partnership with doValue Group, listed on the Milan Stock Exchange, the largest servicer in southern Europe with €116 billion in assets under management.
Over the last decade, doValue Portugal has established itself as one of the few end-to-end platforms for complex assets in the Portuguese asset management industry. Since the acquisition of the largest servicing platform Oitante in 2017, with more than €2 billion AUM, the firm has built a successful portfolio of products and services by adding securitization, advisory and portfolio management services.
Upon closing of the transaction, the firm will become a standalone company with a dedicated strategic focus on empowering customers and institutional partners with innovative services for solving complex real asset situations.
"We look forward to continue working closely with doValue Group across the various markets and opportunities,” said Arash Talebinejad, Managing Partner at Albatris. “doValue Portugal provides a best-in-class platform chosen by many of the leading enterprises in the world. We see great potential to grow the platform by empowering its talented team and investing in product innovation, delivering excellence for customers, and building strong strategic partnerships.
“We are confident that this marks an exciting next chapter for the firm and one that will continue to create benefits for its customers and employees. The Albatris team knows our industry well and is the ideal strategic partner to support the Portuguese business to become a standalone company and sustainably grow the firm’s asset base and rapidly evolving needs at the digital front-line,” said Mariano Chemes, CEO of doValue Iberian.
As a standalone company, the firm will continue to be run by its existing management team. The firm will implement Albatris's broad-based employee program, which makes employees owners in their respective businesses alongside Albatris. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger enterprises.
The acquisition complements the existing investments made in Southern Europe and demonstrates Albatris continuing commitment to the region, support in executing this deal was provided by Gómez-Acebo & Pombo, SRS Legal and PwC.
About Albatris
Albatris www.albatris.com is an alternative investment management firm headquartered in Stockholm, focusing on innovative and tailored credit investments and special situations across the spectrum of credit strategies, including distressed debt and non-performing loans. The team has more than 30 years of industry expertise and has invested more than €10 billion across all major European markets.
About doValue Group
The doValue Group is the leading operator in Southern Europe in credit and real estate management services. With an experience of more than 20 years and approximately €116 billion in assets under management (Gross Book Value) as at 31 December 2023 across Italy, Spain, Greece and Cyprus, the doValue Group's business contributes to the economic growth by fostering the sustainable development of the financial system. The doValue Group offers an integrated range of credit management services: servicing of Non-Performing Loans (NPL), Unlikely To Pay (UTP), Early Arrears, performing loans, Master Legal, Due Diligence, data processing and Master Servicing. The shares of doValue are listed on the STAR segment of Euronext Milan (EXM) and, in 2023, the Group reported Gross Revenue of €486 million and EBITDA excluding non-recurring items of €179 million.
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