Sunday, 29 March 2015
Last updated 1 day 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."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…