Hamburg, Germany, November 7, 2022
- EOS Group makes a significant investment in an unsecured loan portfolio since the reopening of the NPL market in Greece
- Substantial single investment by EOS Group as sole investor with an investment volume of more than €100 million
The EOS Group has invested in its first more than €100 million portfolio of unsecured receivables following the reopening of the NPL market in Greece. EOS is partnering with loan and real estate management company doValue Greece for support with the management of the portfolio.
The investment by the EOS Group, titled Project Virgo, is into an unsecured sub-portfolio out of Frontier 1 securitization. “This represents a substantial investment by the EOS Group in one of the largest NPL markets in Europe,” said Carsten Tidow, member of the EOS Group’s Board of Directors with responsibility for the Eastern European region. “We are extremely pleased to have made this investment and confident about the ongoing development of our activities in Greece.” The closing of this deal also underscored the group’s own aspiration to be a reliable partner and key player in the Greek market in future, added Tidow.
“This deal has already changed the visibility of EOS on the Greek NPL market”, said Anthony Messados, Managing Director of EOS Greece. The investment of the EOS Group as sole investor was raising great expectations that now need to be translated into a solid success story, Messados continued.
The EOS Group has already been operating on the Greek NPL market through its own local subsidiary, EOS Greece, since 2005. In conjunction with the processing of the Virgo portfolio, doValue Greece will provide support in the asset management field for a transitional period. “We are delighted to be collaborating with an experienced asset manager on the Greek market,” said Philipp Schuemann, Senior Manager in Division Management Eastern Europe at EOS Group.