The closing involved the following portfolio transfers:
– on 17th January 2025, the Alphabet Secured Retail Portfolio was transferred to an affiliate of funds managed by Fortress Investment Group and Bain Capital’s Special Situations business; and,
– on 31st January 2025, the Alphabet Secured Corporate Portfolio was transferred to a fund managed by Bracebridge Capital.
The tender process, launched in October 2023, attracted strong international investor interest. The successful outcome comes as a result of PQH’s meticulous design and flawless execution of a parallel sale of three NPL portfolios, within the applicable regulatory and legal framework and the company’s commitment to transparency, fair competition, and efficiency.
Spyros Rasias, CEO of PQH, stated “The completion of the Alphabet transaction is an important milestone in PQH’s journey as it is yet another strong demonstration of our commitment to the realisation of our mission. With the support of the Bank of Greece and guided by our strategic planning, the success of the transaction proves the resilience and stability of the Greek economy, despite international financial and geopolitical challenges”.
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