Areas of activities and services
J-Invest S.p.A. is a very active player in the distressed asset and non-performing loan market, mainly focussing on the following two areas: arbitrage of unsecured claims and securitisation of claims.
Main activities
ARBITRAGE OF CLAIMS ADMITTED IN BANKRUPTCY PROCEEDINGS
J-Invest S.p.A. focuses on and analyses every individual insolvency procedure and does not use a statistical methodology for the valuation of a generic NPL portfolio. This approach is unswervingly the same regardless of the number of claims (single-names or large portfolio of names) and type of deal (direct sales or advisor managed auction).
SCOUTING OF HIGH-
RETURN PROCEEDINGS
PRIORITISATION OF
CLAIMS
NEGOTIATION
CASH-IN
- liabilities analysis
- return analysis
- payback analysis
- prioritisation by size, availability, success probability
- identification of reference contracts
- bidding process
- agreement finalisation and non-recourse purchase
- partial repayments
- trading of purchased claims
ARBITRAGE OF CLAIMS ADMITTED IN BANKRUPTCY PROCEEDINGS
J-Invest S.p.A. focuses on and analyses every individual insolvency procedure and does not use a statistical methodology for the valuation of a generic NPL portfolio. This approach is unswervingly the same regardless of the numbers of claims (single names or large portfolio of names) and type of deal (direct sales or advisor managed auction).
ARBITRAGE OF CLAIMS ADMITTED IN BANKRUPTCY PROCEEDINGS
J-Invest focuses S.p.A. on and analyses every individual insolvency procedure and does not use a statistical methodology for the valuation of a generic NPL portfolio. This approach is unswervingly the same regardless of the numbers of claims (single names or large portfolio of names) and type of deal (direct sales or advisor managed auction).
SCOUTING OF HIGH-RETURN PROCEEDINGS
- liabilities analysis
- return analysis
- payback analysis
PRIORITISATION OF CLAIMS
- prioritisation by size, availability, success probability
NEGOTIATION
- identification of reference contracts
- bidding process
- agreement finalisation and non-recourse purchase
CASH-IN
- partial repayments
- trading of purchased claims
SECURITISATION OF CLAIMS
J-Invest S.p.A. is the promoter of securitisation transactions aimed at creating significant returns for the subscribers of the issued notes. J-Invest S.p.A. researches high potential opportunities (origination), analyses and evaluates each position (due diligence) and finalises the purchase of the claims on the basis of its unique selection of NPL portfolios.
The selected claims are purchased through securitisation vehicles established under Italian Law 130/1999.
Securitisation structure
Highlights
The purchase is aimed at setting up a securitisation transaction of claims admitted in bankruptcy proceedings through the issuance of one or more classes of notes by the issuing-SPV.
The issuing-SPV and the Master Servicer enter into a servicing agreement according to which Master Servicer is appointed to carry out the management, recovery and collection of the securitised claims.
Master servicer, in turn, with the consent of the issuing-SPV, appoints J-Invest S.p.A. as the sub-servicer of the securitisation transaction to carry out the servicing activities, pursuant to Italian Law no. 130/1999.
The Sub-Servicer (role entrusted to J-Invest S.p.A.) structures the activity with a view to maximising the collections and reducing recovery times. It defines and controls judicial activities aiming at an “active” approach, so as to accelerate the recovery procedures.
Credentials
J-Invest S.p.A. invests in portfolios selected among the most important Italian and foreign credit institutions and investment funds.
Project Tomacelli
Acquisition of a portfolio of asset-backed and unsecured claims
GBV: €101 mn
September 2019
Project Diaz
Acquisition of a portfolio of unsecured claims
GBV: €533 mn
October 2018
Project Amalfi
Acquisition of a portfolio of asset-backed and unsecured claims
GBV: €384 mn
November 2018
Project Sun
Acquisition of a portfolio of unsecured claims
GBV: €907 mn
December 2017
Italian Leading Credit Institution
Undisclosed
Acquisition of a portfolio of unsecured claims
GBV: €300 mn
April 2017
Project Itaca
Acquisition of a portfolio of unsecured claims
GBV: €22 mn
December 2017
Banca per l’Emilia Romagna
Acquisition of a portfolio of unsecured claims
GBV: €100 mn
December 2016
Undisclosed
Acquisition of a portfolio of unsecured claims
GBV: €100 mn
June 2016
Project Riddler
Acquisition of a portfolio of unsecured claims
GBV: €492 mn
December 2015
Project ENI
Acquisition of a portfolio of unsecured claims
GBV: €31 mn
December 2020