Wednesday, 27 August 2014
Last updated 3 hours ago
Jan 22 2014 | 12:48pm 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."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...