Mariner Launches Infrastructure Fund, Buys Italian Risk

Jan 22 2014 | 1:48pm ET

Mariner Investment Group's new infrastructure business has made its first deal, assuming some of the risk on a US$1.2 billion portfolio of Italian loans.

Two Mariner funds—including its new Mariner Infrastructure Investment Management, which recently debuted with about US$450 million in assets—bought junior and mezzanine notes backed by loans to Italian energy companies from UniCredit. Neither side would disclose the value of the deal, the first for the new Mariner business, but both expressed hopes that it would not be the last.

Mariner said it would like to add more exposure to Italy and UniCredit said it could do similar deals with Mariner. "The transaction signals a strong interest of foreign investors for Italian assets," the bank said.

The deal frees up capital for UniCredit to make further infrastructure loans in Italy while complying with Italian and international banking regulations.

"The magnitude of the capital requirements for banks substantially exceeds available capacity in equity markets," Mariner's Andrew Hohns said. "Banks are currently developing alternative strategies to meet these stringent new demands, and this business initiative is designed to be a flexible partner to banks to assist them in meeting the new requirements."


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 
Error

FINalternatives Trending

From the current issue of