DeA Capital acquires stake in asset manager Quaestio

The owners of Quaestio Holding are Fondazione Cariplo, with a 41.2% stake; chair Alessandro Penati and the management team, with a 27.8% stake; and institutional investors Cassa Italiana di Previdenza ed Assistenza dei Geometri Liberi Professionisti, Fondazione Cassa di Risparmio di Forlì and Direzione Generale Opere Don Bosco, with a combined 31%.

DeA will acquire the entire stake owned by Alessandro Penati and additional minority stakes for a total ownership of up to 44% by deploying up to €13.2m, while Fondazione Cariplo will retain a stake of at least 24%.

The deal price is based on a valuation of €30m for the total share capital of Quaestio Holding.

In addition, DeA, via its alternative assets platform DeA Capital Alternative Funds, has acquired Quaestio's non-performing loans (NPL) management unit by deploying €12.2m.

Quaestio's NPL unit manages the Atlante funds, and the Italian Recovery Fund I and Italian Recovery Fund II (the latter to be launched in the coming months), with total assets under management of approximately €2.5bn.

DeA Capital Alternative Funds is already active in the NPL sector, with a special focus on the unlikely-to-pay segment, via its Corporate Credit Recovery I and II funds, which provide debtor-in-possession financing and target financially stressed mid-market Italian companies.

Following this acquisition, DeA will increase its current assets under management of around €11.9bn to more than €20bn.

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