Bernitsas has advised Hoist Finance on its purchase of the Pearl Portfolio – a retail NPL portfolio of unsecured and secured loans originated by Alpha Bank – in a secondary sale and transfer transaction.
Hoist Finance is a Nasdaq Stockholm-listed Swedish financial institution with a presence in Europe.
According to Bernitsas, "the loans in the Pearl Portfolio had been originally sold and transferred by Alpha Bank as part of a wider portfolio to Orion X Securitisation DAC, Galaxy II Funding DAC. and Cosmos Securitisation DAC."
Back in 2022, Bernitsas advised Hoist Finance on the acquisition of another, EUR 400 million, NPL portfolio from Alpha Bank (as reported by CEE Legal Matters on July 28, 2022).
The Bernitsas team included Partner Athanasia Tsene and Associate Maria Cheimona.
Bernitsas did not respond to our inquiry on the matter.