Jessica Fino 12 Jul 2018 03:24pm

KPMG sells loan portfolio advisory business

KPMG has sold its portfolio solutions group business to Alantra, an investment banking and asset management firm

The business, which is based in London, specialises in advising financial institutions in relation to non-performing and non-core banking assets globally.

KPMG created the team during the Asian financial crises. It currently compromises of 35 professionals who manage transitions with a combined deal value of €180bn (£158.9bn).

A spokesperson for KPMG said, “We periodically evaluate the services and propositions we provide to clients. As part of such a review, it was concluded that the UK Portfolio Solutions Group (PSG) was no longer core to our UK Deal Advisory practice due to its size and our ability to scale the business in the UK.

“Member firms will continue to service their clients in their local markets and this divestment does not impact the services those firms provide locally."

Alantra CPA managing partners Joel Grau, Andrew Jenke and Nick Colman will lead the team, alongside other managing directors based in London, Madrid, Milan, Athens, Dublin and Lisbon.

“We believe this transaction is a key milestone in our strategic plan of building an international business that is able to provide an independent and credible service in the credit transactions market,” Grau said.

“Andrew, Nick and the team have a great reputation in the market and we are convinced that with this deal Alantra CPA will become the market leading advisor for credit portfolio transactions across Europe.”

Following the sale, the joint team will be branded as Alantra Corporate Portfolio Advisory (CPA). It will have 70 professionals dedicated to transaction execution, structuring, pricing, modelling and data enhancement in relation to loan portfolios and servicing platforms.