Sector developments and company hires

NPL Markets has announced a new partnership agreement with World Bank Group member, International Finance Corporation (IFC). The collaboration seeks to develop a greater and more efficient marketplace in South America to manage and trade performing loans, distressed, as well as other illiquid assets. Initially, the partnership will target the large markets of Brazil and Mexico, with hopes to explore more markets going forward. The partnership marks an example of IFC’s ‘Upstream’ approach of early-stage market and project presentation work that seeks to establish new pipelines of opportunity for private sector investment.

In other news…

EMEA

doValue has entered into an agreement with National Bank of Greece for a €1bn HAPS securitisation. Dubbed Project Frontier II, the transaction follows the firm’s earlier Project Frontier I process and marks an important step for the firm’s 2022-2024 business plan. The deal is subject to the completion of the securitisation of the €1m portfolio of predominately secured non-performing loans under the HAPS programme, which is expected to be finalised later this year.